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Bill Gates dumping his enthanol shares

Friday 6 Jun 08 9:00am

Bill Gates is reported to be on track to dump half his original stake in Sacramento's Pacific Ethanol Inc., reflecting growing investor dismay with the industry.

Gates' Cascade Investment LLC, an early major investor in Pacific Ethanol, sold 1 million shares last week at prices ranging from $3.45 to $3.83 a share, according to filings with the Securities and Exchange Commission.

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