PwC set to secure third Enron sale
PricewaterhouseCoopers, administrators to the collapsed US energy giant Enron, are said to be on the verge of finalising a sale of the company's London-based metals trading business.
The deal, the third main sale of Enron’s European businesses since it went into administration at the end of November, could be announced in days, according to reports.
Glencore, the Swiss commodities trader, San Diego-based Sempra Energy, HSBC and Goldman Sachs are all rumoured to be potential buyers.
It is however understood that PwC has already selected a buyer and is working on finalising the deal before early next week.
The metals business was bought by Enron in June 1999 for £300m in a bid to diversify into trading products. But bids for the business are expected to be significantly lower than its sale price to Enron.
PwC secured a sale in mid-December of the energy giant’s London-based international coal team to American AEP Energy Services.