Sacramento ethanol firm ups its stake in plants (Sacramento Bee)

December 21, 2012 – Sacramento’s ethanol company is slowly recapturing the production plants it lost to bankruptcy, part of a comeback strategy in what is still a struggling industry. Pacific Ethanol Inc. said this week it’s paying its creditors $1.3 million to increase its ownership stake in four production plants across the West. When the deal is completed, Pacific Ethanol will control an 80 percent stake in the four plants, which creditors took over in 2010. The company also announced a series of complicated debt-refinancing moves. The moves will push back $32 million worth of debt maturities by two to three years, leaving Pacific Ethanol with just $6.7 million in debt coming due on its plants next year.

Link to Full Article: http://www.sacbee.com/2012/12/21/5068911/ethanol-firm-ups-its-stake-in.html

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