German firm completes buyout of U.K. ethanol producer

07/21/2013 | Reuters

German ethanol producer CropEnergies issued 2.25 million new shares with a total value of about $17.7 million to wrap up its acquisition of the U.K.'s Ensus from Carlyle Group-linked funds. Carlyle will hold a 2.6% stake in CropEnergies when the transaction clears. CropEnergies pledged to inject more than $76 million into Ensus, whose bioethanol plant in England is one of biggest in Europe.

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