Dalinar Energy Boosts Bid for Citgo Parent in Key Auction

Miner Gold Reserve's subsidiary, Dalinar Energy, has enhanced its bid for the parent company of Citgo Petroleum in a court-supervised auction. The improved offer includes a higher purchase price and additional financial backing, increasing the bid's viability. The winning bidder will be chosen next month.

Miner Gold Reserve's subsidiary, Dalinar Energy, intensified its bid for the parent company of Citgo Petroleum in a court-supervised auction, set to declare its winner next month.

The company announced that its revised proposal features a substantially higher purchase price, demonstrating improved financial backing to fortify its position.

The adjustment not only raises the offer economically but also enhances the bid's robustness with non-economic assurances, ensuring a competitive edge in the auction.

(With inputs from agencies.)