Rusoro Announces Credit Bid by Dalinar Energy for CITGO Parent Company and Update Thereof
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Rusoro Mining Ltd. announced that Dalinar Energy, a subsidiary of Gold Reserve Ltd., submitted a credit bid to purchase 100% of PDV Holding, Inc. (PDVH), CITGO's parent company. However, the Special Master recommended a $3.699 billion bid from Red Tree Investments as the 'Stalking Horse' bid. Rusoro is being advised by Rothschild & Co and legal firms to maximize the value of its U.S. Judgment in the PDVSA sale process.
March 24, 2025 | 12:45 pm
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Rusoro Mining is part of a consortium supporting Dalinar Energy's bid for PDVH, though the bid was not recommended by the Special Master. The company is actively working to maximize its U.S. Judgment value.
While the bid was not recommended, Rusoro remains actively engaged in the process with high-profile advisors, indicating potential future value realization.
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