|
Enron to sell assets
|
 |
September 5, 2001: 6:45 p.m. ET
Power wholesaler plans to sell $4B-to-$5B over next two years: report
|
NEW YORK (CNNfn) - Enron Corp., the world's biggest power wholesaler, plans to sell $4 billion-to-$5 billion in assets over the next two years, press reports said Wednesday.
Enron, whose CEO Jeff Skilling resigned earlier this month, still expects to divest its Portland General Electric, an Oregon utility, the interactive version of the Wall Street Journal reported.
Enron has been divesting international assets and the power company is close to selling the unit, current CEO Kenneth Lay told an industry gathering, the WSJ said.
Lay resumed the CEO post at Enron after Skilling left this month.
Houston-based Enron (ENE: down $2.64 to $32.36, Research, Estimates) could not immediately be reached for comment.
Sierra Pacific Resources agreed to buy Portland General $2.1 billion in 1999 but the transaction fell apart due to complications arising from the California energy crisis.
Enron has been a subject of harsh criticism from California elected officials, who charge it and other power generators with price gouging and creating the current energy crisis there. 
|
|
|
|
|
|
Enron
|
Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney
|
|
|
|
 |
|
