Blue Water Acquisition Corp. III Submits $10 Billion Offer for PDV Holding Inc., Owner of Citgo Petroleum Corp.
Written by Emily J. Thompson, Senior Investment Analyst
Source: Newsfilter
Updated: Sep 05 2025
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Source: Newsfilter
Acquisition Bid: Blue Water Acquisition Corp. III has submitted a $10 billion bid to acquire PDV Holding Inc., the parent company of Citgo Petroleum Corp., through a Delaware court-supervised auction process.
Proposal Details: The proposal includes cash or stock distributions for creditors, a $3.2 billion settlement for PDVSA 2020 bondholders, and aims to return Citgo to U.S. ownership as a publicly listed company, ensuring transparency and accountability.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
