A long-awaited sale hearing to finalize the U.S. court-organized auction of PDV Holding, parent of Venezuela-owned Citgo Petroleum, kicked off on Monday in Delaware, with bidders and creditors battling over the future of the refiner.
An affiliate of hedge fund Elliott Investment Management has become the leading bidder for the parent company of Venezuela-owned refiner Citgo Petroleum, potentially overtaking a group led by miner Gold Reserve, a U.S. court officer said Monday.
An affiliate of Elliott Investment Management has raised its bid for PDV Holding, the Venezuela-owned parent of U.S. refiner Citgo Petroleum, to $8.82 billion, according to a court filing on the ongoing Delaware-led auction.
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