US EditionUS Judge to Decide on Starting Bid in Citgo Parent Auction Following Hearing - Energy News, Top Headlines, Commentaries, Features & Events
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A US court is expected to confirm or reject in the next few days an offer of $3.7 billion submitted by a subsidiary of Contrarian Funds with the objective of establishing a minimum amount for a new round of bids for the shares of the refinery matrix.
US Judge to Rule on $3.7B “Stalking Horse” Bid in Citgo Parent Auction - EnergiesNet
Delaware Judge Leonard Stark’s ruling on the $3.7B bid establishes a critical starting point for PDV Holding’s auction, amid intense creditor debates over valuation and fairness. Marianna Parraga, Reuters HOUSTON EnergiesNet.com 04 18 2025 A U.S. court is expected to confirm or reject in coming days a $3.7 billion offer by a Contrarian Funds affiliate … US Judge to Rule on $3.7B “Stalking Horse” Bid in Citgo Parent Auction Read More » The post U…
US Judge to Decide on Starting Bid in Citgo Parent Auction Following Hearing - Energy News, Top Headlines, Commentaries, Features & Events
By Marianna Parraga Judge Stark inclined to accept court officer’s recommendation Starting with low bid would make it difficult to approach $7 bln-$8 bln value for Citgo Contrarian’s pact with bondholders could complicate topping period HOUSTON, April 17 (Reuters) – A U.S. court is expected to confirm or reject in coming days a $3.7 billion ...
A U.S. court will decide in the next few days on an offer of $3.7 billion presented by a subsidiary of Contrarian Funds. This proposal seeks to establish the basis for a new round of tenders from the Venezuelan refinery Citgo. The offer, made by Red Tree, generated a dispute between 16 creditors. These seek to be compensated by the “debt defaults and expropriations carried out by the government of Nicolás Maduro,” according to Reuters. Among tho…
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