SEOUL, South Korea and HOUSTON, Oct. 6, 2005 (PRIMEZONE) -- Prisma Energy announced today that it has completed the sale of its 50 percent interest in SK-Enron to a group of buyers, including SK Corp. in Seoul, South Korea. SK-Enron is a joint venture that was established between Enron and SK Corp. in 1999.
Through its operating subsidiaries, SK-Enron is the leading distributor of natural gas in South Korea and imports/markets liquefied petroleum gas (LPG). SK-Enron currently owns and operates nine city gas companies, one liquefied petroleum gas import and marketing company, and one cogeneration company.
"This strategic sale demonstrates Prisma Energy's commitment to continually assess our investment portfolio worldwide to ensure we are maximizing value for our shareholders," said, Ron Haddock, Chairman of the Board and CEO, Prisma Energy. "This sale will further strengthen our balance sheet and facilitate growth and development of the Company."
Prisma Energy is an international energy company, which manages interests in a group of 15 energy assets located in 11 countries. The company operates through three business segments: Natural Gas Services, Power Distribution and Power Generation. The company's World Wide Web site can be accessed at www.prismaenergy.com.
The Prisma Energy company logo can be found at http://www.primezone.com/newsroom/prs/?pkgid=1969