Reported about 14 hours ago
Blue Water Acquisition Corp has made a $10 billion offer to acquire the parent company of Citgo Petroleum, which includes a $3.2 billion proposal to settle with Venezuelan bondholders. The bid comes after a court-sanctioned auction for PDV Holding, which has faced a series of competing offers. Blue Water aims to offer creditors immediate recovery and future equity in Citgo, and a procedural conference is planned for next week before a final hearing in mid-September.
Source: YAHOO