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Published May 22, 2015, 10:54 AM

CHS Inc. to buy Illinois ethanol plant in $196 million deal

CHS Inc. will buy an ethanol plant in Annawan, Illinois, that is partially owned by REX American Resources Corp, a U.S. Securities and Exchange Commission filing showed on Thursday.

By: Reuters ,

CHICAGO -- CHS Inc. will buy an ethanol plant in Annawan, Illinois, that is partially owned by REX American Resources Corp, a U.S. Securities and Exchange Commission filing showed on Thursday.

CHS is to acquire full ownership of Patriot Holdings LLC, which operates the ethanol plant, in a deal valued at $196 million, the filing showed. REX American currently owns 26.6 percent of Patriot and would take in as much as $49 million in the deal, the filing stated.

The sale was expected to close on June 1, said two sources familiar with the deal.

CHS, the largest farm cooperative in the United States, purchased an ethanol plant a year ago Rochelle, Ill.

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