Enron Corp. wins control of utility in Brazil market
Article Abstract:
Enron Corp. has reached an agreement to acquire a controlling interest in a Brazilian electricity-distribution firm for $1.3 billion. The move is an attempt by Enron to speed up its expansion into the Brazilian market. The asking price for Elektro Electricidade e Servicos SA was $670 million. Elektro is a subsidiary of the state-owned Cia. Energetica de Sao Paulo. Enron is a energy firm based in Houston, Texas.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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CMS to buy two Duke Energy pipelines
Article Abstract:
CMS Energy Corp. intends to expand its gas pipeline from the Gulf north to Michigan from which it sells gas transportation and storage to power plants. The company will pay Duke Energy Corp. $1.9 billion for two natural-gas pipelines and assume $300 million in debt. In a related but separate transaction, PP&L Resources Inc. will acquire 13 power plants in Montana, its largest acquisition thus far.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Enron, helped by electricity trading, more than doubled its sales in quarter
Article Abstract:
Enron Corp. announced that its revenue for the second-quarter of 1998 more than doubled. The company was the beneficiary of trading and financial services. Enron posted quarterly earnings of $145 million. During the same period in 1997, the company posted a $420 million loss due to a major loss from a natural gas contract in England. Company revenues reached $6.5 billion during the quarter.
Comment:
Announced that revenue for the second-quarter of 1998 more than doubled
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Comment about this article or add new information about this topic:
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