A US bankruptcy court approved the $477m (€363m) sale of VeraSun’s ethanol facilities to Valero and upheld an order for all sales to close on Tuesday. Valero will pay $350m for VeraSun's VSE Group facilities, $72m for the US Bio Energy facility in Albert City, Iowa, and $55m for the ASA facility in Albion, Nebraska, said VeraSun, which is currently under bankruptcy protection. The ethanol plants have a combined annual production capacity of about 780m gal. VeraSun’s secured lenders submitted a $516m bid for the company’s remaining assets.