National Distillers will buy an Enron chemicals unit.
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National Distillers & Chemical Corp. agreed to acquire Enron Corp.’s petrochemicals unit for $575 million. In addition, the plastics and ethyl alcohol producer announced that it was seeking a buyer for the wines and spirits division on which it was founded. The division makes Almaden wines as well as liquors under the Old Grand-Dad, Old Taylor, Gilbey’s and De Kuyper labels. Its sale would culminate a longtime strategy to concentrate on the company’s petrochemicals and propane gas distribution business.
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