Post #2064

📰 NEWS | Venezuela: CITGO Court-Mandated Sale in Upheaval Following Last Minute Bids The court-ordered sale of CITGO has taken a turn after late bids from Vitol ($8.5B) and Elliott Management ($8.8B) surpassed the $7.4B offer from Gold Reserve recommended by court-appointed Special Master Robert B. Pincus. The Delaware auction, initiated to satisfy creditor claims, has Crystallex, Tidewater, ConocoPhillips, and O-I Glass first in line. Both new bids could cover more claims and include settlements with PDVSA 2020 bondholders. Judge Leonard P. Stark will decide on a revised schedule this Friday. 🔗 Read the full report here: https://shorturl.at/SMCmn #CITGO