Elliott Affiliate Wins Citgo Auction with $7.28 Billion Bid, Overseen by Special Master

Sep 27, 2024, 06:38 PM

Elliott Investment Management's conditional offer for shares in Citgo Petroleum's parent company was accepted by a US court officer overseeing an auction. The federal court ordered the sale of shares to compensate creditors of the bankrupt Venezuelan government. An Elliott affiliate won the auction with a $7.28 billion bid. This decision, which was overseen by a special master, ends talks with Venezuela bondholders.