Reported 12 months ago
A U.S. court has been asked to postpone a hearing on the winning bid for an auction of shares in Citgo Petroleum's parent company to September 19. The court officer evaluating bids in this historical auction requested a two-month delay to complete evaluations and negotiate with bidders. The auction could lead to a change in ownership of Venezuela's Citgo, aiming to satisfy $21.3 billion in claims against the country. The judge may need to decide on unsolicited bids if deemed superior to those received.
Source: YAHOO