Louisiana Pellets secures court approval of $35.4 million asset sale

By Caroline Salls

Pittsburgh, April 11 – Louisiana Pellets, Inc. received court approval to sell its assets to LaSalle BioEnergy, LLC for $35.4 million, according to an order filed Tuesday with the U.S. Bankruptcy Court for the Western District of Louisiana.

KBG Acquisition, LLC is the back-up bidder, with a $16 million proposed purchase price.

Based in Urania, La., Louisiana Pellets manufactures wood pellets. The company filed for bankruptcy on Feb. 18, 2016 under Chapter 11 case number 16-80162.

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