Reported 1 day ago
Elliott Investment Management and Gold Reserve affiliates are competing in an auction for Citgo Petroleum's parent company, with a crucial recommendation from a U.S. court officer expected soon. Gold Reserve's subsidiary Dalinar Energy leads with a $7.4 billion bid, while Elliott's Amber Energy and other bidders are also in the mix, prompting a bidding deadline extension. Key differences in offers include cash versus non-cash considerations and negotiations regarding bondholder payments. The auction aims to compensate creditors for $19 billion in debts related to Venezuela.
Source: YAHOO