Dec 2 (Reuters) – Venezuelan Vice President and Oil Minister Delcy Rodriguez said on Tuesday the South American country rejects the ‘fraudulent’ and ‘forced’ sale of the parent company of refiner Citgo Petroleum in a legal process in the United States, after the sale was authorized by a U.S. judge last week. “We energetically reject […]
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Venezuela rejects sale of Citgo’s parent, vice president says
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Dec 2 (Reuters) – Venezuelan Vice President and Oil Minister Delcy Rodriguez said on Tuesday the South American country rejects the ‘fraudulent’ and ‘forced’ sale of the parent company of refiner Citgo Petroleum in a legal process in the United States, after the sale was authorized by a U.S. judge last week.
“We energetically reject the decision adopted in the judicial process”, Rodriguez said in a statement read on state television. The Venezuelan government has always opposed the sale.
Lawyers representing Venezuela, Citgo, its parent companies and miner Gold Reserve GRZ.V on Monday appealed against an order last week from a Delaware judge that approved the sale of PDV Holding’s shares.
Delaware Judge Leonard Stark last week authorized the sale of Citgo parent PDV Holding to an affiliate of hedge fund Elliott Investment Management, following the confirmation of the company’s $5.9 billion bid in a court-organized auction.
(Reporting by Reuters)