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BRIEF-The Andersons And Marathon Petroleum Combine Ethanol Interests

Published 2019-10-02, 11:58 a/m
© Reuters.  BRIEF-The Andersons And Marathon Petroleum Combine Ethanol Interests
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Oct 2 (Reuters) - Andersons Inc ANDE.O :

* THE ANDERSONS, INC. AND MARATHON PETROLEUM CORP. COMBINE ETHANOL INTERESTS

* ANDERSONS INC - ANDERSONS AND MARATHON PETROLEUM OWN 50.1% AND 49.9% OF TAMH EQUITY, RESPECTIVELY

* ANDERSONS INC - WILL CONTINUE TO OPERATE FOUR PLANTS, BUY CORN, MARKET ETHANOL AND OTHER COPRODUCTS AND MANAGE RISK FOR TAMH

* ANDERSONS INC - IN CONJUNCTION WITH MERGER AGREEMENT, TAMH HAS ENTERED INTO SEVERAL NEW LONG-TERM SERVICES AGREEMENTS WITH ANDERSONS

* ANDERSONS INC - TAMH HAS ENTERED INTO SEVERAL NEW LONG-TERM SERVICES AGREEMENTS WITH ANDERSONS

* ANDERSONS INC - DEBT PREVIOUSLY HELD BY SEPARATE ENTITIES WAS REFINANCED USING A NEW $200 MILLION TAMH CREDIT FACILITY

* ANDERSONS - MERGER WILL RESULT IN SIZABLE ONE-TIME, NONCASH GAIN IN Q4

* ANDERSONS INC - CO, MARATHON PETROLEUM MERGED FOUR ETHANOL ENTITIES WITH AND INTO NEW LEGAL ENTITY ANDERSONS MARATHON HOLDINGS LLC

* ANDERSONS INC - TRANSACTION WILL RESULT IN CONSOLIDATION OF TAMH'S RESULTS IN ANDERSONS' FINANCIAL STATEMENTS

* ANDERSONS - UNDER LOAN SERVICE AGREEMENTS, CO WILL CONTINUE TO OPERATE 4 PLANTS, BUY CORN, MARKET ETHANOL & OTHER COPRODUCTS AND MANAGE RISK FOR TAMH

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