US EditionBlue Water Acquisition Corp. III Announces Submission of $10 Billion Bid for PDV Holding Inc., Parent of Citgo Petroleum Corp.
- Blue Water Acquisition Corp. III has submitted a $10 billion bid to acquire PDV Holding Inc., the parent company of Citgo Petroleum Corp., in a Delaware court-supervised auction process.
- The proposal offers either cash or stock distributions to PDV Holding Inc.'s creditors and includes a $3.2 billion settlement for holders of PDVSA 2020 bonds.
- This bid aims to return Citgo to U.S. ownership as a publicly-listed company that will report to U.S. regulators and investors.
- The auction includes three major U.S. refineries, with a combined refining capacity exceeding 800,000 barrels per day.
36 Articles
36 Articles
The Courier-Tribune
Blue Water Acquisition Corp. III Announces Submission of $10 Billion Bid for PDV Holding Inc., Parent of Citgo Petroleum Corp.
GREENWICH, Conn., Sept. 5, 2025 /PRNewswire/ -- Blue Water Acquisition Corp. III (Nasdaq: BLUWU) ("Blue Water" or the "Company") today announced that it has submitted a $10 billion bid to acquire PDV Holding Inc., the parent company of Citgo Petroleum…
A new corporation joined the auction of the Venezuelan Citgo Petroleum refinery, based in the United States, on Friday, when it presented an offer valued at $10 billion. Blue Water Acquisition, a special purpose acquisition corporation formed to identify and complete businesses with high potential companies in various sectors, especially health; it included in its proposal an agreement of $3.2 billion for Pdvsa bondholders in arrears, who sued P…
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