Prisma Energy International Inc., was a former subsidiary of Enron Corporation, formed in 2003 to own and manage the majority of Enron's overseas assets, formerly known as "Enron International".[1] Prior to its official organization, Prisma was referred to within Enron as "InternationalCo". Enron's original bankruptcy reorganization plan, presented in early 2002, would have created a company broadly similar to Prisma (known under the working name "OpCo Energy"), but including Portland General Electric and the energy trading business, both later divested separately. As one of the final steps in Enron's liquidation, following their 2001 bankruptcy, Prisma was sold to Ashmore Energy International Ltd., a unit of Ashmore Group Plc., in 2006. Prisma was structured as an 'offshore' United Statescorporation incorporated in the British Overseas Territory of the Cayman Islands, but with its headquarters in Houston, Texas. It served as a holding company for 15 gas and electricity businesses. Its subsidiary, Prisma Energy International Services LLC, employed approximately 125 individuals, most at its headquarters in Houston, Texas. Assets in which Prisma Energy managed an interest employed an additional 6,500 employees worldwide. Following its 2006 sale to Ashmore Energy International Limited, Prisma Energy International Inc. was merged/amalgamated with Ashmore Energy International Limited with Prisma Energy being the survivor company.[2] In December 2006, Prisma Energy International Inc. changed its name to Ashmore Energy International and, subsequently, in May 2007 to AEI.
Prisma Energy managed interests in international energy assets focused on transportation, distribution and generation of gas and electricity with approximately:
5,145 miles (8,280 km) of natural gas transmission pipelines
1,700 miles (2,700 km) of oil/liquids pipelines
56,000 miles (90,000 km) of electric transmission and distribution lines
1,903 MW of electric power generating capacity
4 million LPG and electric power customers
15 businesses located in 11 countries
Enron bankruptcyedit
According to the final restructuring plan submitted to bankruptcy court, Enron Corporation will be dissolved at the conclusion of the restructuring process, which would have allowed Prisma Energy International to emerge as an independent company. Enron's creditors, who lost about $63 billion due to its massive bankruptcy, were expected to receive between 17 and 22 cents on the dollar in cash and in Prisma stock due to its parent company Enron's dissolution. Prisma Energy had three business segments: natural gas, power distribution, and power generation on four continents. The natural gas units process and supply liquefied petroleum gas (LPG) in Bolivia, Brazil, Colombia, and South Korea. The power distribution business consisted of Elektro Eletricidade, a Brazil-based company with 1.8 million customers. Prisma Energy's power generation units managed power plants in Europe and South America. As of 2006, Enron's bankruptcy case is still ongoing. Despite earlier plans to spin off Prisma as an independent, public company, Enron instead reached a deal to sell the business outright to a unit of the London-based Ashmore Group. On September 7, 2006, the sale of Prisma to Ashmore Energy International Limited was completed.
^"Enron Announces Proposed Sale of Prisma Energy International Inc". Blackstone. 2006-05-25. Retrieved 2024-02-02.
^"Enron Sells International Assets, Proceeds to Go to Creditors". Natural Gas Intelligence. 2006-05-30. Retrieved 2024-02-02.
External linksedit
[1] - 'Prisma Energy International Inc.' information
March 18, 2024
prisma, energy, international, former, subsidiary, enron, corporation, formed, 2003, manage, majority, enron, overseas, assets, formerly, known, enron, international, prior, official, organization, prisma, referred, within, enron, internationalco, enron, origi. Prisma Energy International Inc was a former subsidiary of Enron Corporation formed in 2003 to own and manage the majority of Enron s overseas assets formerly known as Enron International 1 Prior to its official organization Prisma was referred to within Enron as InternationalCo Enron s original bankruptcy reorganization plan presented in early 2002 would have created a company broadly similar to Prisma known under the working name OpCo Energy but including Portland General Electric and the energy trading business both later divested separately As one of the final steps in Enron s liquidation following their 2001 bankruptcy Prisma was sold to Ashmore Energy International Ltd a unit of Ashmore Group Plc in 2006 Prisma was structured as an offshore United States corporation incorporated in the British Overseas Territory of the Cayman Islands but with its headquarters in Houston Texas It served as a holding company for 15 gas and electricity businesses Its subsidiary Prisma Energy International Services LLC employed approximately 125 individuals most at its headquarters in Houston Texas Assets in which Prisma Energy managed an interest employed an additional 6 500 employees worldwide Following its 2006 sale to Ashmore Energy International Limited Prisma Energy International Inc was merged amalgamated with Ashmore Energy International Limited with Prisma Energy being the survivor company 2 In December 2006 Prisma Energy International Inc changed its name to Ashmore Energy International and subsequently in May 2007 to AEI Contents 1 Scope of operations 2 Enron bankruptcy 3 Board members 4 References 5 External linksScope of operations editPrisma Energy managed interests in international energy assets focused on transportation distribution and generation of gas and electricity with approximately 5 145 miles 8 280 km of natural gas transmission pipelines 1 700 miles 2 700 km of oil liquids pipelines 56 000 miles 90 000 km of electric transmission and distribution lines 1 903 MW of electric power generating capacity 4 million LPG and electric power customers 15 businesses located in 11 countriesEnron bankruptcy editAccording to the final restructuring plan submitted to bankruptcy court Enron Corporation will be dissolved at the conclusion of the restructuring process which would have allowed Prisma Energy International to emerge as an independent company Enron s creditors who lost about 63 billion due to its massive bankruptcy were expected to receive between 17 and 22 cents on the dollar in cash and in Prisma stock due to its parent company Enron s dissolution Prisma Energy had three business segments natural gas power distribution and power generation on four continents The natural gas units process and supply liquefied petroleum gas LPG in Bolivia Brazil Colombia and South Korea The power distribution business consisted of Elektro Eletricidade a Brazil based company with 1 8 million customers Prisma Energy s power generation units managed power plants in Europe and South America As of 2006 Enron s bankruptcy case is still ongoing Despite earlier plans to spin off Prisma as an independent public company Enron instead reached a deal to sell the business outright to a unit of the London based Ashmore Group On September 7 2006 the sale of Prisma to Ashmore Energy International Limited was completed Board members editBoard members included Ron Haddock Executive Chairman and CEO John W Ballantine Philippe A Bodson Lawrence S Larry Coben Dr Paul K Freeman Henri Philippe Robert E Wilhelm Brent de Jong Patrick S KenneyReferences edit Enron Announces Proposed Sale of Prisma Energy International Inc Blackstone 2006 05 25 Retrieved 2024 02 02 Enron Sells International Assets Proceeds to Go to Creditors Natural Gas Intelligence 2006 05 30 Retrieved 2024 02 02 External links edit 1 Prisma Energy International Inc information Retrieved from https en wikipedia org w index php title Prisma Energy International amp oldid 1202403949, wikipedia, wiki, book, books, library,
