Jun 11, 11:22 AM

Venezuela Creditors Submit Offers for Citgo's Parent in $21.3 Billion Auction with 18 Creditors

Creditors with priority are submitting binding offers for shares in the parent company of Citgo Petroleum, a Venezuela-owned refiner. The US federal court is overseeing the auction where 18 creditors are seeking up to $21.3 billion for past expropriations and debt defaults. Bidders have the opportunity to raise their offers after the June 11 filing deadline, potentially leading to an ownership change for the seventh-largest US refiner.

#Citgo Petroleum #Venezuela #US

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