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Cascade Investment LLC, a private investment company owned by Microsoft Chairman Bill Gates, has registered its 10.5 million shares of Pacific Ethanol Inc. as being offered for public sale. The registration came in a Nov. 16 filing to the U.S. Securities and Exchange Commission that noted Cascade Investment's 20.55 percent stake in Pacific Ethanol "may be offered for sale from time to time during the period the registration statement" remains effective.
Although it's possible Cascade Investment won't sell its stake in Pacific Ethanol, the SEC filing opens the door for the company to extricate itself from its initial investment of $84 million. According to SEC filings, Cascade lost $24 million by investing in Pacific Ethanol.
