US judge confirms Red Tree's offer as starting bid in Citgo parent's shares auction

ReutersApr 21, 2025 9:01 PM

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HOUSTON, April 21 (Reuters) - A U.S. federal judge on Monday confirmed a $3.7 billion offer by Contrarian Funds' affiliate Red Tree Investments as the starting bid in an auction of shares in the parent of Venezuela-owned refiner Citgo Petroleum to pay creditors and bondholders, according to a court filing.

The offer had been recommended by a court officer overseeing the auction due to its certainty of closure.

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