Bid by Elliott affiliate emerges as front runner in Citgo auction, filing says

ReutersAug 26, 2025 1:22 AM

HOUSTON, Aug 25 (Reuters) - A U.S. court officer overseeing an auction of shares in the parent of Venezuela-owned refiner Citgo Petroleum said on Monday a bid by an affiliate of hedge fund Elliott Investment Management is considered superior to an offer by a group led by miner Gold Reserve GRZ.V, which he had previously recommended as the winner.

The evaluation by officer Robert Pincus could lead to a new winner recommendation if Gold Reserve's subsidiary Dalinar Energy does not soon match or exceed the terms submitted by Elliott's affiliate Amber Energy.

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