|Pacific Ethanol says Gates deal closing delayed|
Fri Mar 31, 2006 11:29 AM ET
NEW YORK, March 31 (Reuters) - Pacific Ethanol Inc. (PEIX.O: Quote, Profile, Research), which is building an ethanol production facility in California, on Friday said it will be delayed in filing its annual report due to delays completing its audit.
The company also said it will not close on Friday on the sale of $84 million in preferred stock to Bill Gates's investment vehicle Cascade Investment LLC, as had been planned. The company said it is still working with Cascade on closing the deal and hopes to do so by mid-April.