28 October 2014 - US homebuilding company Green Brick Partners Inc (NASDAQ:GRBK) has announced the acquisition of domestic real estate investment fund JBGL
Builder Finance LLC and several subsidiaries of JBGL
Capital LP from affiliates of local hedge fund Greenlight Capital Inc and James R.
Pursuant to the terms of the Agreement, the Company will acquire JBGL for $275 million, payable in cash and Company common stock.
Subject to the satisfaction of such conditions, the acquisition of JBGL by the Company is expected to be consummated in October 2014.
Builder Finance LLC, JBGL
Capital LP units
Duff & Phelps LLC, Richards Layton & Finger PA and Cravath Swaine & Moore LLP are advising BioFuel on the takeover, while Greenlight and JBGL
are being consulted by Akin Gump Strauss Hauer & Feld LLP.
Pursuant to the terms of the agreement, BioFuel will acquire JBGL
for $275 million, payable in cash and BioFuel common stock.
Ethanol company BioFuel Energy (NasdaqCM:BIOF) on Wednesday reported a definitive agreement to acquire the equity interests of JBGL Builder Finance and certain subsidiaries of JBGL Capital (collectively, JBGL) from certain affiliates of Greenlight Capital and James R.
Under the terms of the agreement, BioFuel Energy will acquire JBGL for USD275m in cash and its common stock.
Hedge fund sponsor Greenlight Capital Inc and James Brickman have made a preliminary non-binding proposal to sell US-based JBGL
Capital LP and JBGL
Builder Finance LLC and their units to BioFuel Energy Corp (NASDAQ:BIOF), the latter said.
M2 EQUITYBITES-March 31, 2014-Owners pitch JBGL
sale to BioFuel Energy