Pacific Ethanol, Inc. Enters Into Agreement to Sell Ownership Interest in Pacific Aurora, LLC
PACIFIC ETHANOL (PEIX)
Last pacific ethanol earnings: 3/26 04:05 pm
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US:NASDAQ Investor Relations:
pacificethanol.net/investors
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Source: GlobeNewswire
SACRAMENTO, Calif., March 03, 2020 (GLOBE NEWSWIRE) -- Pacific Ethanol, Inc. (NASDAQ: PEIX), a leading producer and marketer of low-carbon renewable fuels and high-quality alcohol products in the United States, announced today it has signed a definitive agreement to sell its 74% ownership interest in Pacific Aurora, LLC to the Aurora Cooperative Elevator Company (Aurora Cooperative) for $52.8 million of consideration, subject to certain working capital adjustments. Aurora Cooperative currently holds a 26% ownership interest in Pacific Aurora, LLC. Included in the sale are two ethanol production facilities with a combined annual production capacity of 145 million gallons, a grain elevator with storage capacity of 4.1 million bushels and integrated rail facilities located in Aurora, Nebraska. After working capital adjustments and the settlement of certain payables between Pacific Aurora, LLC and the Aurora Cooperative, the consideration received at closing is expected to be approximat
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