Reported about 18 hours ago
A U.S. court auction of shares in PDV Holding, the parent company of Venezuela's Citgo Petroleum, is nearing its conclusion, raising concerns that Venezuela could lose its most valuable foreign asset amid significant debts. The auction is the result of a long legal battle initiated by Canadian miner Crystallex and has attracted several bidders, including Red Tree Investment and Vitol. If Venezuela fails to retain equity in Citgo, it would further strain its economic situation, already burdened with $150 billion in foreign debt.
Source: YAHOO