Update on CITGO Sale Process
GOLD RESERVE INC A NEW (GDRZF)
NASDAQ:AMEX Investor Relations:
goldreserveinc.com
Company Research
Source: Business Wire
PEMBROKE, Bermuda--(BUSINESS WIRE)--Gold Reserve Ltd. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announces that the $7.1 billion bid, with fully committed financing from two large financial institutions, submitted by the Company’s US subsidiary, Dalinar Energy Corporation (“Dalinar Energy”), was not recommended by the Special Master as the “Stalking Horse” or the “Base Bid” for the purchase of the shares of PDV Holding, Inc. (“PDVH”), the indirect parent company of CITGO Petroleum Corp., in the sales process being conducted by the U.S. District Court for the District of Delaware (the “Court”).The terms of Dalinar Energy’s proposal (the “Proposal”) have now been publicly disclosed by the Special Master appointed by the Court to operate the sale process. The bid by Dalinar Energy and information on the other bids submitted to the Special Master can be found at https://goldreserve.bm/bids.The Special Master recommended as the Stalking Horse a $3.699 billion bid by
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News
- Gold Reserve Provides Update in CITGO Sale Process: Gold Reserve Files Statement in Support of Stay Pending AppealBusiness Wire
- Gold Reserve Provides Update in CITGO Sale Process: Multiple Parties Appeal Final Sale OrderBusiness Wire
- Gold Reserve Provides Update on Citgo Sale Process: Delaware District Court Enters Final Sale Order for Sale to Elliott/AmberBusiness Wire
- Gold Reserve Provides Update on Court Decision in Citgo Sale Process: Delaware District Court Adopts Special Master’s Recommendation of Elliott/Amber Energy $5.9 Billion Bid Over ObjectionsBusiness Wire
- Gold Reserve Prevails in ICC Arbitration Against BANDESBusiness Wire