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Author: Steadfast7 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 71  
Subject: Re: Buyouts and Bidding Wars Date: 1/26/2002 8:37 AM
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I considered making a comment on the political circus, but I dislike politicians and would like to keep my posts on the positive side of life. Even now the temptation to comment is strong...
About the buyouts, I thought I should share the information that I know about so far. (This is public information and I'm not divulging insider info, which I have no access to anyway.)
It's hard not knowing what is going on behind closed doors, but it is known that Tractebel has made a bid for Enron's 50% interest in SK-Enron. It is also known that Enron is involved in discussions with El Paso Corp. and Royal/Dutch Shell. I've had my eye on both those companies for a long time now. They just seemed logical suitors. The entire scope of the discussions are unknown to the public so far. So who knows?
More news from around the world. There appear to be six companies in a bidding war for Enron's 65% ownership of Dabhol Power Company in India. 3 are foreign (from the view of India) and 3 are domestic. Shell, TotalFinaElf and Gaz de France are the foreign companies and Tata Power, BSES, and Gas Authority of India Ltd, are the domestic bidders. The companies are being required to sign a confidentialtiy agreement so we probably won't know much more until it is a done deal. The deadline for submitting the bids is likely to be March 14th according to a source from Tata Power.
In the Philippines, PSALM (Philippines' Private Sectors Assets and Liabilities Management Corp.), is expected to buyout Enrons two power plants in Subic Bay and Batangas. This buyout was originally expected to be completed this month, but there is no apparant hurry since Enron is still operating them and they'll just keep working until the switch-over is made. Their culture seems more layed back about this kind of thing. They probably have less stress related health problems also.
Enron has made no statements about these buyouts, which is as it should be. The companies concerned probably won't be saying anything as well since it wouldn't be in their best interests either.
So the buy outs are in the works. I'll post more as I find out more.
The United States press is too close to the Enron situation to see or notice the important details that would matter to people like us. Those details are boring, won't sell stories and doesn't stir up public angst. I find these details exciting, but I like liver and black licorice too.
This next is old news, - Shell and Hamburg Electric Company joined to form a residential energy provider? Guess what they called it? Newpower. I didn't already post this info did I? I'll check later to see. It actually took place in 1999 so naming it Newpower would be a coincidence. (maybe)

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