BusinessCompany NewsSempra buys Enron Metals business

Sempra buys Enron Metals business

PricewaterhouseCoopers, administrators to Enron Europe, today announced the sale of Enron Metals to San Diego-based Sempra Energy for an undisclosed sum.

Dipankar Ghosh, administator at PwC, said: ‘I am delighted to announce the sale of Enron Metals Limited. We received strong expressions of interest from 20 parties – the offer from Sempra was the best.’

He added: ‘The sale is good news for EMGL’s creditors as well as for the employees and the counterparties of Enron Metals Limited.’

The metals business was bought by Enron, the US energy giant, in June 1999 for £300m in a bid to diversify into trading products. The business’ sale price to Sempra was expected to be significantly lower than its sale price to Enron.

Related Articles

M&S business rate liabilities based on £570m rateable value

Company News M&S business rate liabilities based on £570m rateable value

3m Emma Smith, Managing Editor
BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

7m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

11m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

11m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

1y Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

1y Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

1y Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

1y Emma Smith, Managing Editor