Business Services Industry
Enron's Natural Gas Pipelines Free to Move On.
Knight Ridder/Tribune Business News, September, 2003
By Eric Berger, Houston Chronicle Knight Ridder/Tribune Business News
Sep. 26--A judge ruled Thursday that Enron can move its major natural gas pipeline holdings into a new company that will operate free of the parent firm's myriad liabilities.
For several months in late 2002 and earlier this year, Enron tried to sell the three units, which have a combined 9,900 miles of pipeline. But the offers Enron disclosed during Thursday's hearing were generally less than the company's own valuations.
"The ability to move out from under what is generally viewed as the Enron radioactive cloud will allow this segment of the Enron estate to pursue not only some near-term, but some intermediate-term growth opportunities," Stephen Cooper, Enron's...
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