Citgo Auction Data Room Reopened
This is a Venezuela news story, published by Yahoo Finance, that relates primarily to Citgo Petroleum news.
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state oil firm PDVSAReuters
•US judge issues order to reopen Citgo data room, restart bidding
78% Informative
A U.S. judge overseeing an auction of shares in the parent of Venezuela -owned Citgo Petroleum on Monday agreed to reopen a data room to allow potential buyers to prepare new bids.
The court is auctioning shares in Citgo parent PDV Holding to repay $21 billion in claims against Venezuela and state oil firm PDVSA for expropriations and debt defaults.
A conditional offer of up to $7.3 billion by an affiliate of hedge fund Elliott Investment Management failed to gain support from creditors.
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