Reported 12 months ago
A federal judge has postponed a hearing for the sale of Citgo Petroleum Corp.’s parent company, allowing a court-appointed special master more time to assess bids for control of the US oil refiner. The sale, motivated by the need to fulfill $20 billion in claims against Venezuela and its state-owned oil company, involves competing bids from companies like Vitol and Gold Reserve Inc. The special master plans to announce the winning bid on July 31, with the final hearing now rescheduled for September 19.
Source: YAHOO