Guardian Energy has agreed to buy a 100-million gallon ethanol plant in Janesville, Minn. that was previously owned by VeraSun Energy Corp.
VeraSun originally bought the property in 2007 when it acquired Inver Grove Heights-based US BioEnergy Corp. VeraSun, based in Sioux Falls, S.D.,declared bankruptcylast November, and announcedit would sell the Janesville plantin January.
Mankato-based AgStar Financial Services acquired the plant in a bankruptcy auction in March, and sold it to Shakopee-based Guardian Energy, a subsidiary of Guardian Eagle Investments, for an undisclosed amount. The sale is expected to close by Sept. 15, and Guardian Energy plans to have it operational within two months of the closing.
While the plant is constructed, it has never been fully operational.
The Janesville plant is the fourth VeraSun property sold by AgStar Financial. A fifth sale, of a plant in Dyersville, Iowa, will be announced later this week.
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