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.

Electric Utilities, Electric Power Generation, Transmission and Distribution, Foreign operations, Brazil, Elektro Eletricidade e Servicos S.A.

---

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.

Gas transmission and distribution, Pipe lines, Pipelines, Mergers, acquisitions and divestments, Abstract, CMS Energy Corp., CMS, Natural gas, Natural gas pipelines, Duke Energy Group Inc.

---

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

Sales, profits & dividends

Similar abstracts:

• Abstracts: CBS to sell nonmedia lines to consortium. CalEnergy to buy MidAmericn Energy. AlliedSignal's bid for AMP isn't a surprise to everyone
• Abstracts: Microsoft delays release of Windows NT revamp. Microsoft offers home buyers on-line site
• Abstracts: Hilton cites Asia in profit warning for 3rd quarter. Bergen to buy PharMerica Inc. in stock deal
• Abstracts: 4 drug makers move to settle in pricing suit. Drug maker to close plants and cut jobs
• Abstracts: Cendant cites wider accounting fraud. Cendant Profit tops forecasts; '97 is restated. American Bankers' shares drop 8.6% on speculation Cendant may back out

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.