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Pacific Ethanol buys Illinois Corn Processing for $76M

Source: https://seekingalpha.com/news/3275688-pacific-ethanol-buys-illinois-corn-processing-76m?source=email_rt_mc_readmore&app=1&dr=1#email_link

Jun. 27, 2017 8:09 AM • SA Editor Carl Surran
Pacific Ethanol (NASDAQ:PEIX) agrees to acquire Seacor Holdings (NYSE:CKH) subsidiary Illinois Corn Processing for $76M in cash and notes.
PEIX says the deal will add 90M gal/year of production capacity, diversifies fuel ethanol production with high-value beverage and industrial grade alcohol, expands export opportunities, and is expected to be immediately accretive to earnings.
PEIX also says the consolidation of ICP's manufacturing, storage and distribution facility adjacent to its Pekin, Ill., plant integrates the facilities into a combination of technologies and products with a combined operating capacity of 250M gal/year.