Reported about 10 hours ago
A U.S. court has recommended a complete overhaul of the auction process for shares in Citgo Petroleum's parent company, PDV Holding, as the year-long sale has fallen apart. The court is seeking to repay $21.3 billion in claims against Venezuela and its state oil firm, PDVSA, but previous bids, including one from Elliott Investment Management, failed to garner support. The court adviser plans to re-launch the auction by December 18, 2024, allowing new bids for three months, with a final recommendation expected by April.
Source: YAHOO