trending Market Intelligence /marketintelligence/en/news-insights/trending/9QPUPE05_c79zMZAoj85JA2 content esgSubNav
In This List

The Andersons, Marathon Petroleum merge 4 ethanol entities into 1 company

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Using ESG Analysis to Support a Sustainable Future

Research

US utility commissioners: Who they are and how they impact regulation

Blog

Q&A: Datacenters: Energy Hogs or Sustainability Helpers?


The Andersons, Marathon Petroleum merge 4 ethanol entities into 1 company

Agricultural company The Andersons Inc. and Marathon Petroleum Corp. merged four ethanol facilities into a new holding company called The Andersons Marathon Holdings LLC, or TAMH, according to an Oct. 2 release.

The merger combined three ethanol facilities jointly owned by The Andersons and Marathon Petroleum — located in Albion, Mich.; Clymers, Ind.; and Greenville, Ohio as well as The Andersons' ethanol facility in Denison, Iowa. The Andersons will hold a 50.1% interest in TAMH while the remaining 49.9% will be held by Marathon Petroleum effective Oct. 1.

Alongside the merger agreement, TAMH entered into several long-term services agreements with The Andersons in which the latter will continue to operate the four facilities, buy corn, market ethanol and other coproducts as well as manage risk for the holding company.

Debt previously held by the separate entities was refinanced through a new $200 million TAMH credit facility.