Flint Hills Resources LLC entered into an agreement to acquire substantially all of the assets of Abe Fairmont, LLC from Advanced BioEnergy, LLC for $160 million on October 15, 2012. As per the deal, Flint Hills Resources LLC will acquire substantially all of the assets of Abe Fairmont, LLC and related distillers and non-food grade corn oil businesses located in Fairmont, Nebraska and will pay at closing $147.5 million, $12.5 as a deffered payment plus cost of inventory and assume debt. The deal is subject to approval of Board of Director of Advanced BioEnergy, LLC, approvals under Hart-Scott-Rodino Act, government approvals, regulatory approvals and third party consents.

The deal was approved by board of directors of Advanced BioEnergy, LLC. The proceeds of the transaction will be used to pay the debt of Abe Fairmont, LLC, support the operations in South Dakota and distribution to unit holders. The deal is expected to close on the third business day following the date all condition to the transaction is completed.

Stanley J. Duran of Lindquist & Vennum PLLP acted as legal advisor to Advanced BioEnergy, LLC and Thomas (Ted) E. Keim, Jr. of Latham & Watkins LLP acted as legal advisor to Flint Hills Resources LLC. McGladrey & Pullen, LL acted as accountant and Greene Holcomb & Fisher LLC acted as financial advisor to Advanced BioEnergy, LLC. Wells Fargo Bank, National Association acted as escrow agent in the deal.