Palm Beach, FL 12/1/11 (StreetBeat) --Pacific Ethanol, Inc. (Nasdaq:PEIX), the leading marketer and producer of low-carbon renewable fuels in the Western United States, 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."We are excited to increase our ownership interest at an attractive valuation. At current margins, this transaction is immediately accretive to shareholders, and is priced at a discount to both market valuations and our initial 20% purchase," said the company's president and CEO, Neil Koehler. "Ethanol continues to grow as a cost effective and low-carbon component of transportation fuel and we intend to seek additional ownership opportunities in these and other production facilities on favorable terms to further enhance shareholder value."
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