Bidder for Citgo parent Gold Reserve says happy with refiner's management

Gold Reserve

10/07/2025 15:24

HOUSTON, July 10 (Reuters) - Executives of Toronto-listed Gold Reserve GRZ.V said on Thursday the mining company is pleased with the performance of Venezuela-owned Citgo Petroleum's management, a sign that top company executives might remain if a bid by a Gold Reserve subsidiary for the refiner's parent is approved by a U.S. federal judge.

A $7.4 billion bid by Gold Reserve's Dalinar Energy Corporation was recommended this month by a court officer overseeing a court-organized auction of shares. Delaware Judge Leonard Stark is expected to soon decide whether to approve it, while opposition from other bidders and creditors has emerged.

 (Reporting by Marianna Parraga)

 ((marianna.parraga@thomsonreuters.com; +1 713 371 7559; Reuters Messaging: @mariannaparraga))