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The subsidiary Northern Natural Gas operated the largest natural gas pipeline company in North America.
At the end of 2001, it was revealed that Enron's reported financial condition was sustained by institutionalized, systematic, and creatively planned accounting fraud, known since as the Enron scandal.
Enron has since become a well-known example of willful corporate fraud and corruption.
Inter North CEO Sam Segnar, in searching for a company to merge with to fend off takeover attempts as a poison pill, discovered HNG.
In May 1985, Internorth acquired HNG for $2.3 billion, 40% higher than the current market price, At the outset, Segnar was CEO for a short time, before he was fired by the Board of Directors whereupon Lay was tapped to be the new CEO.
Another major development inside Enron was the beginning of the company's pivot to overseas that was expanded upon in the 1990s.
Starting in 1989, the company received a million loan from the Overseas Private Investment Corporation (OPIC) for a power plant in Argentina.
Over the next 50 years, Northern expanded even more as it acquired many energy companies and created new divisions within.
It was reorganized in 1979 as the main subsidiary of a holding company, Inter North, which was a diversified energy and energy-related products company.
Lay moved the headquarters of the new company back to energy capital Houston.Tags: Adult Dating, affair dating, sex dating