BusinessBusiness RecoveryEnron to sell most prized asset

Enron to sell most prized asset

Collapsed former energy giant Enron is to sell its most prized asset - its natural gas pipeline arm CrossCountry Energy.

Link: Enron special report

On Friday last week a US federal bankruptcy judge approved Enron’s agreement to sell the US pipelines for $2bn (£1.6bn) to consortium CCE Holdings.

Enron chose the CCE offer following a closed-door auction, and the sale is expected to be completed by December.

Enron is also to sell another subsidiary business – Portland General Electric – leaving it with just one company – Prisma Energy International – which has small-scale pipeline and power assets in 14 countries.

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