Aurora Cooperative to acquire a 74% stake in Pacific Aurora from Pacific Ethanol for $53m.

Aurora Cooperative, an agricultural retailer, agreed to acquire a 74% stake in Pacific Aurora, a producer of ethanol, from Pacific Ethanol, a producer and marketer of low-carbon renewable fuels and high-quality alcohol products, for $53m. The transaction is anticipated to close within the next 45 days, subject to customary closing conditions. “We are pleased to come to agreement with our valued partner Aurora Cooperative. The sale of our interest is a win-win for both companies, strengthening Pacific Ethanol’s balance sheet while providing Aurora Cooperative with full ownership of these assets. We are confident that under Aurora Cooperative’s capable management and farmer ownership the facilities will provide value to the local community and the overall ethanol industry. We are committed to a smooth transition of operations and look forward to further collaboration with Aurora Cooperative in growing a successful ethanol business,” Neil Koehler, Pacific Ethanol’s President and CEO.