Financial Accounting Blog

Tuesday, November 18, 2003

This MSN Money artice, MSN Money - Breaking News, reports the sale of one of Enron's companies as a result of it seeking bankruptcy protection two years ago.
"The price being paid by Oregon Electric will also include debt, the amount of which is yet to be decided based on its financial performance in 2003.

The positive point of the deal is that Enron has been able to sell the asset in one piece rather than breaking it up as some had feared it might have to do given the delay that was occurring in finding a buyer for the asset.

``Enron and its official unsecured creditors committee believe this transaction is the best option to deliver maximum value to our economic stakeholders,'' said Stephen Cooper, Enron's chief restructuring officer.