Energy Industry
Industry: Email Alert RSS FeedSempra Buys Enron Metals
Oil Daily, The, January, 2002
Sempra Buys Enron Metals
US energy services giant Sempra Energy is expanding its trading presence in Europe, through an agreement to buy Enron Europe's London-based metals trading business for around $145 million. The deal is scheduled for completion on Feb. 4. Sempra stated that its purchase is subject to a final audit of the net assets.
The price is much less than what Enron paid for the business 18 months ago. It follows agreement last week to a similarly discounted sale by Enron of Indian upstream assets to UK- based BG, subject to approval by a US bankruptcy court (OD Jan.24,p6).
Dipankar Ghosh, a partner for PricewaterhouseCoopers, appointed on Nov. 29 as administrators for insolvent Enron Europe, said his company has received "strong...
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