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Enron Mail |
-----Original Message----- From: Bushman, Teresa G. Sent: Monday, November 5, 2001 6:47 PM To: Corbet, Nancy; Fowler, Ellen; Larson, Bradford; Butcher, Sharon Subject: FW: Sale of JEDI II assets FYI-- -----Original Message----- From: Ephross, Joel Sent: Monday, November 05, 2001 5:31 PM To: Hudler, Shirley A.; Thompson, C. John Cc: Bushman, Teresa G.; Mintz, Jordan Subject: RE: Sale of JEDI II assets John, the prior conversations concerning these assets indicated that the non-JEDI 2 ownership of some of these assets resided in the WhiteWing structure. WhiteWing also involves outside equity, and in addition to other concerns, has limitations on sales below contributed value [the book value on the transfer to WhiteWing]. Given the current situation concerning related party transactions, I recommend approval from the Enron Corp. Board prior to any related party transaction, as well as the approval of JEDI 2 and in the case of WhiteWing, at least a majority of the outside equity. Teresa, if these activities are under active consideration, I suggest we schedule meetings with Mark Haedicke and Jeff McMahon. -----Original Message----- From: Hudler, Shirley A. Sent: Monday, November 05, 2001 4:56 PM To: Thompson, C. John Cc: Ephross, Joel Subject: Sale of JEDI II assets John, It has come to my attention that we are looking at selling several of the E&P investments to a related party. Because of the current issues Enron is having with related party transactions, such a sale will require Enron as GP of JEDI II, to obtain the LPs consent - obviously this mean CalPERS as I am assuming we would consent to our own deal. I have spoken with CalPERS briefly regarding the proposed sale and they do not seem immediately inclined to permit such a sale. Please give me a call so we can discuss. Thanks. Shirley x34859
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