NEW YORK (TheStreet) -- Shares of Green Plains (GPRE - Get Report) are increasing 0.99% to $18.42 on Tuesday morning as the ethanol producer agreed to purchase ethanol plants in Illinois and Indiana from Sevilla, Spain-based Abengoa (ABGBY) for $200 million, Bloomberg reported.
The two plants have a combined yearly production capacity of about 180 million gallons of ethanol, according to a regulatory filing.
The mills, located in Mount Vernon, IN and Madison, IL, are being sold in an auction by Abengoa segments that have pending cases under Chapter 11 of the U.S. bankruptcy code, Bloomberg noted.
Omaha, NE-based Green Plains expects the transaction to close in the third quarter.
Most of Abengoa's subsidiaries are in bankruptcy, a spokesman told Bloomberg.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its revenue growth and largely solid financial position with reasonable debt levels by most measures.
But as a counter to these strengths, the team also finds weaknesses including feeble growth in the company's earnings per share, deteriorating net income and poor profit margins.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.
You can view the full analysis from the report here: GPRE