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Enron Mail |
As usual, not as bad as originally reported. Note that media interest is
minimal. Mark ----- Forwarded by Mark Palmer/Corp/Enron on 11/10/2000 11:39 AM ----- Keith Miceli 11/10/2000 11:26 AM To: Mark Palmer/Corp/Enron@ENRON cc: John.Ambler/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT Subject: Mark: Per your request, following is a rough translation of the article that appeared in the Gazeta Mercantil (GM), which is considered the WSJ of Brazil. As you recall, in May, GM ran a story on the possible sale of Enron's assets, which we responded with Corp's "no comment" policy. In some respects, today's story on the sale of Elektro is not likely to generate much follow-on media interest because the "rumors/speculation" of selling assets have been "on the street" since May. In fact, I received an email from our PR office in Sao Paulo this morning, informing me that there has been only one media inquiry (Jander Ramon from the news agency Estado) and our response was "no comment." Keith Gazeta Mercantil - Panorama Setorial - By Katia Ogawa ELEKTRO: Enron leaves the company and tomorrow opens data-room in SP S?O PAULO, November 8th, 2000 - The North American Enron will make available to the market, starting tomorrow, the information regarding its controlled Elektro. The S?o Paulo concessionaire's data-room opening represents the official selling of the equity, acquired by Enron on July, 1998. The intention to leave the business had already been disclosed by the North-American, that had not yet sent any formal signal in this sense. Executives from the sector point-out that Elektro shall stay in the hands of the Eletricidade de Portugal (EDP), but they do not risk a business value projection. Eletropaulo has already disclosed that it has no interest in participating in the dispute, likewise the CMS, that controls the Companhia Paulista de Energia El,trica (CPEE). The offer of Elektro to investors is being treated confidentially among the companies. Market sources suggest that Enron might present the controlled company under a new shape, split-up in two parts, that could encompass the commercialization and operation areas. The data-room will be set-up in a hotel, located in the South Area of the City of S?o Paulo. Elektro distributes energy to 223 S?o Paulo Municipalities, in addition to other five from Mato Grosso do Sul, with a client base of approximately 1.5 million. Enron has acquired the concession on July 16th, 1998, by offering R$ 1,479,357,290.00, with a spread of 98.94% over the minimum price.
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