Dec 2 (Reuters) – Venezuela’s Vice President and Oil Minister Delcy Rodriguez said on Tuesday the South American country rejected a “fraudulent” and “forced” sale of refiner Citgo Petroleum’s parent company in U.S. legal proceedings after the deal was authorized by a U.S. judge last week.
“We firmly reject the decision adopted during the judicial process,” Rodriguez said in a statement read out on state television. The Venezuelan government has always opposed the sale.
Lawyers representing Venezuela, Citgo, its parent company and miner Gold Reserve GRZ.V on Monday appealed a Delaware judge’s order last week approving the sale of PDV Holding shares.
Delaware Judge Leonard Stark last week authorized the sale of Citgo parent PDV Holding to an affiliate of hedge fund Elliott Investment Management after the company bid $5.9 billion in a court-organized auction.
(Reported by Reuters)
