Bill Gates sells shares, owns less than 5% of Pacific Ethanol

By Lisa Kerner

Charlotte, N.C., June 16 - Bill Gates' Cascade Investment, LLC sold 3.5 million shares of Pacific Ethanol, Inc., reducing the investor's beneficial ownership in the company to 4.99%, or approximately 2.57 million shares.

The shares were sold between June 5 and June 13 priced from $2.24 to $3.31 each, a schedule 13D filing with the Securities and Exchange Commission said.

Gates reported an 11.8% stake in the Sacramento-based ethanol provider on June 6 and a 17% ownership interest on May 22.

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