Ethanol business up for grabs in US

The board of directors of Sinav, which owns GTL Resources (GTL) and Illinois River Energy (IRE), is to sell off the ethanol business.

IRE is an ethanol production facility, located in Rochelle, which owns and operates a 125 million gallon per year ethanol plant that commenced operations in 2006. Additionally GTL, the company’s business development arm, is advancing new technologies to further enhance IRE’s competitive advantages.

Ascendant Financial Partners has been appointed as the exclusive M&A and financial advisor to Sinav for any sale.