VeraSun proposes to sell some assets to Valero

The Wall Street Journal - MarketWatch
By Robert Daniel, MarketWatch
Last update: 5:27 a.m. EST Feb. 8, 2009

Deal valued at $280 million is part of plan to sell all assets in bankruptcy court

TEL AVIV (MarketWatch) -- VeraSun Energy Corp. filed a proposal in bankruptcy court to sell a number of its assets to Valero Energy Corp. for $280 million.

The proposal, filed in U.S. Bankruptcy Court for the District of Delaware, also asks the court to enable the company to sell substantially all the assets of parent VeraSun and 24 of its affiliates.
VeraSun, the Sioux Falls, S.D., producer of ethanol, late in October filed to reorganize under Chapter 11 of U.S. bankruptcy law.

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