The Wall Street Journal: Pacific Ethanol to buy Aventine for $190 million in stock

#Energy

Biofuel company Pacific Ethanol Inc. agreed to buy Aventine Renewable Energy Holdings Inc. for about $190 million in stock, a deal that would make the company the fifth-largest ethanol producer in the U.S. , already the largest producer of low-carbon fuels in the western U.S., would expand its reach into the Midwestern and Eastern markets currently served by Illinois-based Aventine . Ethanol is a renewable fuel made from plants, often corn, and is one of the most popular sources of alternative energy.

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