Reported 8 months ago
At least five investor groups submitted bids in the US court-ordered auction of Citgo Petroleum's parent company, with three securing financing commitments. Prominent names such as JPMorgan, Morgan Stanley, Rothschild & Co, and Elliott Investment Management are involved, increasing the likelihood of a significant offer. The auction, expected to reach $21.3 billion, is significant for both Venezuela and the US oil refiner. The results are anticipated in mid-July, and bidding groups are preparing to potentially raise their offers to outbid competitors.
Source: YAHOO