BP Bids for Enron Assets

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BP Bids for Enron Assets

01/09/2002

LONDON -- BP Plc. has bid $25 million for a small portion of Enron Corp.'s assets, mainly back office functions and information technology systems.

Enron's full energy trading business is scheduled to be auctioned in a federal bankruptcy court on Jan. 10. "We're bidding for software, business processes, and license rights," a BP spokeswoman told the Associated Press.

Once the world's leading energy trader, Enron filed for Chapter 11 bankruptcy in December, after questions around its financial dealings led to the company's collapse.

BP may be interested in bidding for other Enron assets if the current auction process breaks down, the spokeswoman added.