Allegro sells Louisiana plant

By | July 14, 2008
Allegro Biodiesel Corp. has signed a definitive agreement with Consolidated Energy Holdings LLC to sell the company's wholly owned subsidiary Vanguard Synfuels LLC. Through the terms of the transaction, Consolidated Energy Holdings will assume Vanguard Synfuels' $2.9 million in senior secured debt, and all outstanding employment agreements between Allegro Biodiesel and Vanguard Synfuels. Allegro Biodiesel first announced the company's intent to sell its biodiesel plant in May due to financial distress, and the company aimed to complete the agreement with Consolidated Energy Holdings within several weeks.
 
 
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