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Abengoa Bioenergy US Holdings Bid Procedures Approved

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The U.S. Bankruptcy Court approved Abengoa Bioenergy US Holdings’ motion for entry of an order approving and authorizing bidding procedures in connection with the sale of one or more of the Debtors’ assets, stalking horse protection procedures related to the assumption and assignment of certain executory contracts and unexpired leases, form and manner of notice thereof, authorizing the sale of one or more of the Debtors’ assets free and clear of all liens and approving the assumption and assignment of certain executory contracts and unexpired leases related thereto.

As previously reported, “[T]he Bioenergy Debtors entered into the following asset purchase agreements (together with the schedules and related documents thereto, the ‘Stalking Horse Agreements’), all dated June 10, 2016: (i) between Abengoa Bioenergy of Illinois, (‘ABIL’) and Abengoa Bioenergy of Indiana (‘ABI’), on the one hand, and Maize Acquisition Sub (the ‘Maple Stalking Horse Purchaser’), on the other hand, for the Maple Assets in an amount no less than $200 million (the ‘Maple Stalking Horse Bid’); (ii) between Abengoa Bioenergy of Nebraska, (‘ABNE’) and KE Holdings (the ‘Ravenna Stalking Horse Purchaser’) for the Ravenna Assets in an amount no less than $115 million (the ‘Ravenna Stalking Horse Bid’); and (iii) between Abengoa Bioenergy Company (‘ABC’) and BioUrja Trading (the ‘York Stalking Horse Purchaser,’) for the York Assets in an amount no less than $45 million (the ‘York Stalking Horse Bid’)… Under the Stalking Horse Agreements, the Stalking Horse Purchasers have agreed to purchase the Purchased Assets at the prices specified in each respective agreement (the ‘Stalking Horse Purchase Prices’).”

Read more Abengoa bankruptcy news.

The post Abengoa Bioenergy US Holdings Bid Procedures Approved appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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