Siem Kapital, North Atlantic Value Buy GTL Resources

Marine firm Siem Kapital and fund manager North Atlantic Value will pay 32 million pounds ($52 million) in cash to buy GTL Resources, the owner of an ethanol and bio-refining company, Reuters reported. Siem and NAV will pay one pound a share for GTL, which produces over one million gallons of ethanol per year through its subsidiary Illinois River Energy.

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