Hey there! Congrats with Scott William. I hope all is going well. Fifteen days and counting till our third arrival. I've attached the DASH that documented the divestiture. The quick summary of the economics per Heather Kroll are as follows:

Original Basis of $8mm.
Signed the Purchase and Sale Agreement on May 16 for $22mm (gain of $14mm)

Sold put for $3.5mm with $1.7mm granted to origination. I don't know for sure what the desk booked.
The coal supply contract resulted in $5mm mark to market to EGM.

The FERC 203 filing has been made regarding market power. They are not expecting any issues with FERC or the North Carolina commission and expect final approval by the beginning of July.

Net gain of about $21mm on transaction.

Chris Lee, the managing partner of Highstar, has requested the opportunity to take you and I out to dinner sometime after you've returned and settled back in to discuss the merits of Enron's investment in Highstar. If that's of interest let me know and I can schedule some time.

Once again, congratulations. Do you have an expected return date yet?
Joe

 

 -----Original Message-----
From: 	Schoppe, Tammie  
Sent:	Tuesday, May 29, 2001 4:18 PM
To:	Deffner, Joseph
Subject:	Report for Louise

Hi Joe,

Louise would like you to send her an update on AIG Highstar via email.  Please let me know if you have any questions.

Thanks,

Tammie
x34220