<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
REPAP ENTERPRISES INC.
----------------------
(Name of Issuer)
COMMON STOCK, NO PAR VALUE
------------------------------
(Title of Class of Securities)
76026M309
---------
(CUSIP Number)
Julia Murray
General Counsel - Finance
Enron North America Corp.
(formerly Enron Capital & Trade Resources Corp.)
1400 Smith Street
Houston, TX 77002
(713) 853-6161
-------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
January 25, 2000
(Date of Event which Requires Filing
of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box: /_/
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Section 240.13d-7(b) for
other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
Page 1 of 13 Pages
<PAGE> 2
CUSIP No. 70626M209 Page 2 of 13 Pages
- ------------------- ------------------
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
SCHEDULE
13D
<TABLE>
<CAPTION>
<S> <C>
- -----------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SUNDANCE ASSETS, L.P.
- -----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /_/
(b) /X/
- -----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
- -----------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) /_/
- -----------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- -----------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF ---------------------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH ---------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 0
---------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- -----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
N/A
- -----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- -----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 3
CUSIP No. 70626M209 Page 3 of 13 Pages
- ------------------- ------------------
SCHEDULE
13D
<TABLE>
<CAPTION>
<S> <C>
- -----------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ENRON NORTH AMERICA CORP. (FORMERLY ENRON CAPITAL & TRADE RESOURCES CORP.)
- -----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /_/
(b) /X/
- -----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
- -----------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) /_/
- -----------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- -----------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF ---------------------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH ---------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 0
---------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- -----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
N/A
- -----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- -----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 4
CUSIP No. 70626M209 Page 4 of 13 Pages
- ------------------- ------------------
SCHEDULE
13D
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------
<S> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ENRON CORP.
- -----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /_/
(b) /X/
- -----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
- -----------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) /_/
- -----------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
OREGON
- -----------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF ---------------------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH ---------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 0
---------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- -----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
N/A
- -----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- -----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 5
CUSIP No. 70626M209 Page 5 of 13 Pages
- ------------------- ------------------
STATEMENT ON SCHEDULE 13D
Note: All information herein with respect to Repap Enterprises Inc., a Canadian
corporation (the "Issuer"), is to the best knowledge and belief of the Reporting
Entities (as defined herein). Items 2, 4 and 5 of Amendment No. 1 to the joint
Schedule 13D/A of Sundance Assets, L.P., Enron Corp. and Enron North America
Corp. (formerly known as Enron Capital Trade & Resources Corp.) dated December
23, 1998 are amended by the addition of the following:
Item 2. Identity and Background, Item 4. Purpose of Transaction and Item 5.
Interest in Securities of the Issuer.
This Amendment No. 2 to the Schedule 13D/A is being filed by (i)
Sundance Assets, L.P. ("Sundance"), (ii) Enron North America Corp. ("ENA"),
formerly Enron Capital & Trade Resources Corp. and (iii) Enron Corp. ("Enron").
Sundance, ENA and Enron are referred to herein as the "Reporting Entities."
Schedules I, II and III set forth current information regarding the
executive officers and directors of Enron Ponderosa Management Holdings, Inc.
("EPMH") (the corporate general partner of the general partner of Sundance), ENA
and Enron, respectively.
On January 7, 2000, Sundance transferred to ENA the Issuer's U.S.
$45,000,000 principal amount of 6% Convertible Subordinated Debentures (the
"Debentures"). On January 25, 2000, ENA sold the Debentures to an unaffiliated
third party for a purchase price, assuming the Debentures had been converted
prior to sale, of $0.168 per share of the Issuer's Common Stock.
As of January 25, 2000, neither Sundance nor any other Reporting Entity
was the holder of record of any Debentures of the Issuer or any Common Stock of
the Issuer, and thus, the Reporting Entities ceased to be deemed the beneficial
owners of any of the Issuer's Common Stock. As such, the Reporting Entities are
no longer subject to filing obligations under Section 13 of the Securities
Exchange Act of 1934 with respect to securities of the Issuer.
Other than the transactions described herein, none of the Reporting
Entities, nor to their knowledge, Ponderosa Assets, L.P. (the general partner of
Sundance), a Delaware limited partnership, which is wholly-owned by Enron and
certain of its subsidiaries, EPMH or any of the persons named in the Schedules
hereto, has effected any transactions in the Issuer's Common Stock during the
preceding sixty days.
<PAGE> 6
CUSIP No. 70626M209 Page 6 of 13 Pages
- ------------------- ------------------
After reasonable inquiry and to the best knowledge and belief of the
undersigned, the undersigned certify that the information set forth in this
statement is true, complete and correct.
Date: February 24, 2000 SUNDANCE ASSETS, L.P.
By: Ponderosa Assets, L.P.
its general partner
By: Enron Ponderosa Management
Holdings, Inc. its
general partner
By: /s/ J. CLIFFORD BAXTER
Name: J. Clifford Baxter
Title: Chairman & CEO
Date: February 24, 2000 ENRON NORTH AMERICA CORP.
(formerly Enron Capital & Trade
Resources Corp.)
By: /s/ J. CLIFFORD BAXTER
Name: J. Clifford Baxter
Title: Chairman & CEO
Date: February 24, 2000 ENRON CORP.
By: /s/ ANDREW S. FASTOW
Name: Andrew S. Fastow
Title: Chief Financial Officer
<PAGE> 7
Page 7 of 13 Pages
------------------
SCHEDULE I
DIRECTORS AND EXECUTIVE OFFICERS
ENRON PONDEROSA MANAGEMENT HOLDINGS, INC.
<TABLE>
<CAPTION>
Name and Business Address Citizenship Position and Occupation
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
1400 Smith Street
Houston, TX 77002
James V. Derrick, Jr. U.S.A. Director
J. Clifford Baxter U.S.A. Director and Chairman, Chief Executive
Officer and Managing Director
Lawrence G. Whalley U.S.A. Director, President and Managing
Director
Raymond M. Bowen, Jr. U.S.A. Managing Director
Richard B. Buy U.S.A. Managing Director
Andrew S. Fastow U.S.A. Managing Director
Mark E. Haedicke U.S.A. Managing Director and General Counsel
Robert J. Hermann U.S.A. Managing Director and General Tax
Counsel
Michael J. Kopper U.S.A. Managing Director
Jeffrey McMahon U.S.A. Managing Director, Finance and
Treasurer
Kristina M. Mordaunt U.S.A. Managing Director and General Counsel,
Structured Finance
Julia Heintz Murray U.S.A. Managing Director, General Counsel and
Secretary
</TABLE>
<PAGE> 8
Page 8 of 13 Pages
------------------
SCHEDULE II
DIRECTORS AND EXECUTIVE OFFICERS
ENRON NORTH AMERICA CORP.
(FORMERLY ENRON CAPITAL & TRADE RESOURCES CORP.)
<TABLE>
<CAPTION>
Name and Business Address Citizenship Position and Occupation
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
1400 Smith Street
Houston, TX 77002
J. Clifford Baxter U.S.A. Director; Chairman of the Board, Chief
Executive Officer and Managing Director
Mark E. Haedicke U.S.A. Director; Managing Director and
General Counsel
Lawrence G. Whalley U.S.A. Director; President and Chief
Operating Officer
Philippe A. Bibi U.S.A. Managing Director
Raymond M. Bowen, Jr. U.S.A. Managing Director and Treasurer
W. Craig Childers U.S.A. Managing Director
David W. Delainey U.S.A. Managing Director
Janet R. Dietrich U.S.A. Managing Director
Richard G. DiMichele U.S.A. Managing Director
Jeffrey M. Donahue U.S.A. Managing Director
James B. Fallon U.S.A. Managing Director
Jay L. Fitzgerald U.S.A. Managing Director
Robert J. Hermann U.S.A. Managing Director and General Tax
Counsel
Gary J. Hickerson U.S.A. Managing Director
Michael J. Kopper U.S.A. Managing Director
John J. Lavorato U.S.A. Managing Director
</TABLE>
<PAGE> 9
Page 9 of 13 Pages
------------------
<TABLE>
<S> <C> <C>
Danny J. McCarty U.S.A. Managing Director
George A. McClellan, III U.S.A. Managing Director
J. Kevin McConville U.S.A. Managing Director
Julia Heintz Murray U.S.A. Managing Director, General Counsel,
Finance and Secretary
Jere C. Overdyke, Jr. U.S.A. Managing Director
Gregory F. Piper U.S.A. Managing Director
Brian L. Redmond U.S.A. Managing Director
Jeffrey A. Shankman U.S.A. Managing Director
John R. Sherriff U.S.A. Managing Director
Colleen Sullivan-Shaklovitz U.S.A. Managing Director
</TABLE>
<PAGE> 10
Page 10 of 13 Pages
-------------------
SCHEDULE III
DIRECTORS AND EXECUTIVE OFFICERS
ENRON CORP.
<TABLE>
<CAPTION>
Name and Business Address Citizenship Position and Occupation
- ------------------------- ----------- -----------------------
<S> <C> <C>
Robert A. Belfer U.S.A. Director; Chairman, President and Chief
Belco Oil & Gas Corp. Executive Officer,
767 Fifth Avenue, 46th Fl. Belco Oil & Gas Corp.
New York, NY 10153
Norman P. Blake, Jr. U.S.A. Director; Chairman, President and CEO of
Promus Hotel Corp. Promus Hotel Corporation
705 Crossover Lane
Memphis, TN 58117-4900
Ronnie C. Chan U.S.A. Director; Chairman of Hang Lung
Hang Lung Development Development Group
Company Limited
28/F, Standard Chartered
Bank Building
4 Des Vouex Road Central
Hong Kong
John H. Duncan U.S.A. Director; Investments
5851 San Felipe, Suite 850
Houston, TX 77057
Paulo V. Ferraz Pereira Brazil Director; President and Chief Executive
Meridional Financial Group Officer of Meridional Financial Group
Av. Rio Branco, 138-15th andar
20057-900 Rio de Janeiro - RJ
Brazil
Joe H. Foy U.S.A. Director; Retired Senior Partner
Bracewell & Patterson
2900 South Tower Pennzoil Place
711 Louisiana
Houston, TX 77002
Wendy L. Gramm U.S.A. Director; Former Chairman, U.S. Commodity
P.O. Box 39134 Futures Trading
Washington, D.C. 20016 Commission
</TABLE>
<PAGE> 11
Page 11 of 13 Pages
-------------------
<TABLE>
<S> <C> <C>
Ken L. Harrison U.S.A. Director; Chairman and Chief Executive
121 S. W. Salmon Street Officer, Portland General Electric Company
Portland, OR 97204
Robert K. Jaedicke U.S.A. Director; Professor (Emeritus), Graduate
Graduate School of Business School of Business
Stanford University Stanford University
Stanford, CA 94305
Charles A. LeMaistre U.S.A. Director; President (Emeritus), University
P.O. Box 15247 of Texas M.D. Anderson Cancer Center
San Antonio, TX 78212
John Mendelsohn U.S.A. Director; President, University of Texas M.
University of Texas D. Anderson Cancer Center
M. D. Anderson Cancer Center
1515 Holcombe
Houston, TX 77030
Jerome J. Meyer U.S.A. Director; Chairman and Chief Executive
26600 S. W. Parkway Officer, Tektronix, Inc.
Building 63; P. O. Box 1000
Wilsonville, OR 97070-1000
Frank Savage U.S.A. Director; Chairman, Alliance Capital
1345 Avenue of the Americas Management International
39th Floor
New York, NY 10105
John A. Urquhart U.S.A. Director; Senior Advisor to the Chairman
John A. Urquhart Assoc. of Enron Corp.; President, John A. Urquhart
111 Beach Road Associates
Fairfield, CT 06430
John Wakeham U.K. Director; Former U.K. Secretary of State
1 Salisbury Square for Energy and Leader of the Houses of
London EC4Y 8JB Commons and Lords
United Kingdom
Herbert S. Winokur, Jr. U.S.A. Director; President, Winokur & Associates,
Capricorn Management, G.P. Inc.
30 East Elm Ct.
Greenwich, CT 06830
</TABLE>
<PAGE> 12
Page 12 of 13 Pages
-------------------
Each of the following person's business address is:
1400 Smith Street
Houston, TX 77002
<TABLE>
<S> <C> <C>
Kenneth L. Lay U.S.A. Director; Chairman and Chief Executive
Officer
J. Clifford Baxter U.S.A. Chairman of the Board, Chief Executive
Officer and Managing Director, Enron North
America Corp.
Richard B. Buy U.S.A. Executive Vice President and Chief Risk
Officer
Richard A. Causey U.S.A. Executive Vice President and Chief
Accounting Officer
James V. Derrick, Jr. U.S.A. Executive Vice President and General Counsel
Andrew S. Fastow U.S.A. Executive Vice President and Chief
Financial Officer
Mark A. Frevert U.S.A. President and Chief Executive Officer,
Enron Europe Limited
Joseph M. Hirko U.S.A. Senior Vice President, Enron Corp.;
Chairman and Chief Executive Officer of
Enron Broadband Services, Inc.
Stanley C. Horton U.S.A. Chairman and Chief Executive Officer, Enron
Gas Pipeline Group
Charlene R. Jackson U.S.A. Managing Director, Intellectual Capital
Steven J. Kean U.S.A. Executive Vice President and Chief of Staff
Mark E. Koenig U.S.A. Executive Vice President, Investor Relations
Rebecca Mark-Jusbasche U.S.A. Director; Chairman and Chief Executive
Officer, Azurix Corp.
</TABLE>
<PAGE> 13
Page 13 of 13 Pages
-------------------
<TABLE>
<S> <C> <C>
Michael S. McConnell U.S.A. Executive Vice President, Technology
Jeffrey McMahon U.S.A. Executive Vice President, Finance and
Treasurer
J. Mark Metts U.S.A. Executive Vice President, Corporate
Development
Cindy K. Olson U.S.A. Executive Vice President, Human Resources
and Community Relations
Lou L. Pai U.S.A. Chairman, President and Chief Executive
Officer, Enron Energy Services, Inc.
Kenneth D. Rice U.S.A. Co-Chairman and Co-Chief Executive Officer
and President, Enron Broadband Services,
Inc.
Jeffrey K. Skilling U.S.A. Director; President and Chief Operating
Officer, Enron Corp.
Joseph W. Sutton U.S.A. Vice Chairman, Enron Corp.
</TABLE>
