Pacific Ethanol Inc. found a buyer for some of its assets, in a move that will give the Sacramento-based renewable fuel producer up to two more years to pay debt that had come due.
Pacific Ethanol (Nasdaq: PEIX) shares rose 15 cents, or 21%, to 84 cents on Monday after the announcement of its asset sales.
In March, Pacific Ethanol said it engaged Minneapolis-based investment bank Piper Jaffray Cos. (NYSE: PJC) for the potential disposition of assets. Pacific Ethanol reported Monday it has “signed…
