U.S. Court Endorses $7.38B Winning Bid for Citgo Parent ...Middle East

OILPRICE - Economy
U.S. Court Endorses $7.38B Winning Bid for Citgo Parent
source : OILPRICE ( Middle East ) () 29
A U.S. court officer on Wednesday officially recommended awarding a $7.38-billion winning bid to mining firm Gold Reserve and investor group Dalinar Energy for PDV Holding, the parent company of Citgo Petroleum, Reuters reported. The move positions Dalinar as the lead contender to seize control of one of the largest independent refiners in the U.S., capping a high-stakes auction that has drawn scrutiny across the board.  The bid, which is substantially above the $3.7-billion “floor price” approved in April, would mark the largest…

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