Loeb Buys 19.3% of BioFuel Energy Corp.; To Partner With EinhornVW Staff
In November last year, lenders to BioFuel Energy Corp. (NASDAQ:BIOF) exercised their rights under the existing senior secured credit facility acquired the companies ethanol plants and completed their sale to an entity called Green Plains Inc (NASDAQ:GPRE). In return they extinguished the entire outstanding under the said credit facility which totalled $ 177 million including principal and interest owed to them by BioFuel Energy.
That marked the end of the company’s ethanol business. The company was left with two assets of any . . .
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