PracticeConsultingPwC set to secure third Enron sale

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.

Links

PwC sells further Enron company

Related Articles

5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

5m Alia Shoaib, Reporter
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

11m Stephanie Wix, Writer
Managing partner Q&A - the year ahead: Richard Toone, CVR Global

Accounting Firms Managing partner Q&A - the year ahead: Richard Toone, CVR Global

12m Kevin Reed, Writer
Deloitte 'self-imposes exile' on government contracts to defuse PM row

Accounting Firms Deloitte 'self-imposes exile' on government contracts to defuse PM row

12m Kevin Reed, Writer
Managing partner Q&A - the year ahead: Julie Adams, Menzies

Accounting Firms Managing partner Q&A - the year ahead: Julie Adams, Menzies

12m Kevin Reed, Writer
Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

Business Regulation Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

1y Kevin Reed, Writer
Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

Audit Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

1y Kevin Reed, Writer
New head of equity capital markets for KPMG

Accounting Firms New head of equity capital markets for KPMG

1y Stephanie Wix, Writer