VeraSun plans to auction all ethanol plants -- DJ
NEW YORK |
NEW YORK Feb 5 (Reuters) - VeraSun Energy Corp VSUNQ.OB VSUNQ.PK, which is under Chapter 11 bankruptcy protection, will put all of its ethanol plants up for sale, Dow Jones Newswires reported on Thursday.
The company has prospective bidders for some of its assets and the rest will be put up in a "naked auction" under the supervision of the court with no floor price, according to comments from VeraSun lawyer at a court hearing in Wilmington, Delaware.
A company spokesman was not immediately able to confirm the report and lawyers for the company were not available to comment.
VeraSun previously won court approval to sell seven of the eight ethanol plants it bought from U.S. BioEnergy last year. The company owns a total of 16 plants.
VeraSun, the second largest ethanol producer in the United States behind privately owned Poet, filed for bankruptcy protection in October, citing high corn prices and a lack of access to financing. (Reporting by Matt Daily; Editing by Andre Grenon)
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