Reported 12 months ago
A court officer's representative reported that the second bidding round for shares in refiner Citgo Petroleum's parent was successful, with multiple competitive bids received last month by a U.S. federal court. The auction is part of a case to pay up to $21.3 billion to creditors for past expropriations and debt defaults in Venezuela, initiated by miner Crystallex in 2017. The highest bid in the first round was $7.3 billion, below the valuation of Citgo. The second round bidders and their offers were undisclosed, with the final hearing postponed to September 19 for further evaluation.
Source: YAHOO