ALL Fuels & Energy Company announced today that it expects its proposed $102.5 million acquisition of Ace Ethanol, LLC to be approved by the members of Ace, at an August 18, 2007, special meeting. Ace Ethanol operates a 46 million (MM) gallon per year production facility in Stanley, WI, with $100 million in revenues and EBITA of over $33 million in 2006.
Dean Sukowatey, President of AFSE, said “We will be on hand Saturday and expect that the Ace members will, by their affirmative vote, bring us across this threshold towards acquiring Ace. The affirmative Ace member vote Saturday takes us one step closer to finalizing this transaction before the end of the third quarter.”
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