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Green Plains sells remaining 50% of Green Plains Cattle Company for $80 million

Christian Fernsby |
Green Plains announced the sale of its remaining 50% joint venture interest in Green Plains Cattle Company to a group of investment funds for approximately $80 million, plus closing adjustments.

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"With the sale of our remaining ownership in Green Plains Cattle Company, combined with our recent quarterly distribution and earnings bonus from performance of the cattle business, we have added approximately $96 million of liquidity to our balance sheet," said Todd Becker, president and chief executive officer.

"The proceeds from the sale and distribution, coupled with our previously announced tax refund and $75 million in protein financing, will add nearly $225 million of liquidity to Green Plains, or over half the remaining amount needed to fund the build-out of high protein technology," added Becker.

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