Aurora Coop’s purchase of Pacific Aurora closes for $52.8 million

In California, Pacific Ethanol, Inc. announced it has closed on its agreement to sell its 74% ownership interest in Pacific Aurora, LLC to Aurora Cooperative Elevator Company (Aurora Cooperative) for a total valuation of $52.8 million. After working capital adjustments and settlement of certain payables between the parties, the Company received at closing $20.2 million of cash, before fees and $16.5 million in promissory notes. Approximately $14.5 million of the cash proceeds will be used to
pay principal payments to its lender, CoBank.