Houston, Dec. 3 (PTI): Enron building, the headquarters of bankrupt energy major Enron Corporation, has been purchased by a local group led by Houston cardiologist Dr Antonio Pacifico for $55.5 million, in a private auction.

The group agreed yesterday to purchase the 50-story building, which is a Houston landmark with an area of 1.27-million-square-foot, at the auction held in the Houston offices of Enron’s bankruptcy law firm, Weil Gotshal and Manges.

The transaction, scheduled to be made final on December 16, must be approved by the Enron bankruptcy judge, said Richard Rudd of Granite Partners, the real estate firm which handled the sale.

The building was owned by a group of banks led by J.P. Morgan Chase and Company.