28 August 2007 21:32 [Source: ICIS news]
HOUSTON (ICIS news)--Ethanol producer US BioEnergy will pay for its acquisition of Millennium Ethanol with $11.8m (€8.6m) in cash and 11.5m in newly issued shares, the company said on Tuesday.
US BioEnergy said the acquisition will cost about $133m.
Millennium is building a 100m gal(379m litres)/year plant that should come online in the first quarter of 2008, the company said.
The Millennium acquisition will increase BioEnergy's capacity to 700m gal/year, the company said.
($1.00 = €0.73)
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