Pacific Ethanol (PEIX) Gains Additional 7% Ownership in New PE Holdco for $4.5M

Pacific Ethanol, Inc. (Nasdaq: PEIX), has purchased an additional 7% ownership interest in New PE Holdco LLC, the owner of the four Pacific Ethanol production facilities with a combined annual production capacity of 200 million gallons. The company paid $4.5 million in cash for the additional interest. This purchase brings the company's total ownership interest to 27%. On October 6, 2010, the company paid $23.3 million in cash for its initial 20% ownership interest.

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