Activist investor Elliott Investment Management was named The presumed winner of the judicial auction Of the shares of the parent company of the oil refinery, Citgo Petroleum, A subsidiary of PDVSA in the United States.
Elliott Show Who With a value of $7.286 million It gives commercial value to Citgo and is subject to the settlement of claims by Venezuelan bondholders, Reuters reported.
This auction is being conducted by the Delaware County Courthouse for Paid up to $21.3 billion in claims against Venezuela and state oil company PDVSA For confiscation and default.
Elliott’s presentation includes a A combination of cash and credit, The sources told the news agency.
The court indicated that the decision is subject to resolving the claims of holders of defaulted Venezuelan bonds, who claim the same assets.
US Attorney Robert Pincus announced that he had selected Amber Energy, an Elliott subsidiary, as the winning bidder. However, make it clear that the buyer You may decide to cancel the proposed purchase agreement In the event of failure of the request to prevent parallel lawsuits for bondholders.
“We will prioritize operational excellence to lay the foundations for it Stability, solidity and long-term success.” said Amber Energy CEO Gregory Goff.
Goff also serves as Managing Director of the US company ExxonMobil.
According to the agency’s report bloomberg, Investors who hold Pdvsa 2020 bonds They will be waiting for the “reward” After it became known that Elliott offered to buy Citgo shares.
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