Gold Reserve Announces Dalinar Energy Unit as Citgo Bidder

Canadian miner Gold Reserve Inc. said its subsidiary Dalinar Energy Corporation submitted a credit bid for the shares of PDV Holdings Inc., the parent company of Citgo Petroleum Corp., according to a according to a statement distributed by Business Wire.

• Bid was submitted on March 7 for Dalinar Energy Corporation to be designated the Stalking Horse Bidder
  • Terms are confidential
• Dalinar Energy’s bid is supported by “a consortium that includes judgment creditors senior to Gold Reserve”, including Koch Minerals Sarl and Koch Nitrogen International Sarl
• Dalinar Energy’s bid relies on a combination of equity and debt financing
• If approved ...