Reported 12 months ago
Oil refiner CVR Energy, owned by billionaire Carl Icahn, has reportedly made a binding offer in an auction of shares in Citgo Petroleum's parent company. The auction, conducted by a U.S. court to address creditors' claims against Venezuela, has attracted bids from CVR, Vitol, and others. CVR, with support from Icahn Enterprises, aims to acquire Citgo's parent company and its refineries in Texas, Louisiana, and Illinois, as it complements CVR's mid-continent refineries. The winning bid is expected to be announced by the court by the end of July, with various financial firms showing interest in supporting the bids.
Source: YAHOO