July 6, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Pacific Ethanol, Inc. (NASDAQ: PEIX) announced the emergence from bankruptcy of Pacific Ethanol Holding Co., LLC, (PEH) and PEH's four wholly-owned ethanol production facility subsidiaries, effective June 29, 2010.

The plant subsidiaries, which are now owned by a newly formed holding company, will continue to be staffed, managed and operated by the company under a fee and profit-sharing arrangement negotiated with the owners of New PEHC.

In addition, the company, through its marketing subsidiary Kinergy Marketing, will continue to market ethanol for the plant subsidiaries.

The company has eliminated approximately $290 million in debt and other liabilities from its balance sheet. The bankruptcy did not affect the company's ownership structure and the company continues to be owned by its existing common and preferred stockholders.

The company has an exclusive option to purchase up to a 25% equity interest in New PEHC for up to $30 million in cash, which is exercisable for a period of 90 days from TODAY.

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