New Rival Bid Emerges in Fight for Citgo’s Parent Company ...Middle East

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New Rival Bid Emerges in Fight for Citgo’s Parent Company
source : OILPRICE ( Middle East ) () 46
A surprise bidder has entered the high-stakes auction for PDV Holding—the U.S.-based parent of Citgo Petroleum—throwing a wrench into a $7.38 billion deal already recommended by a court-appointed officer. The unsolicited offer, confirmed in a court filing Thursday by special master Robert Pincus, comes as the judge weighs whether to approve the existing winning bid from a consortium led by Gold Reserve Ltd. and Dalinar Energy. The rival offer’s backer, known only as “Bidder B,” remains unnamed, but has reportedly been…

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