Blue Water Acquisition Corp. III Advances in CITGO Sale with $10 Billion Bid, Secures Court Approval for Data Access
Reuters
Sep 16
<a href="https://laohu8.com/S/BLUW">Blue Water Acquisition Corp.</a> III Advances in CITGO Sale with $10 Billion Bid, Secures Court Approval for Data Access
Blue Water Acquisition Corp. III, through its affiliate Blue Water Venture Partners, LLC, led by CEO Joseph Hernandez, announced it has received court approval to enter into a non-disclosure agreement with the Special Master for the CITGO sale. This approval grants Blue Water access to the confidential data room established for the transaction. Blue Water's proposal includes a $10 billion bid, which surpasses current offers, aiming to transform CITGO into a publicly traded U.S. company. The proposal also offers creditor equity conversion, protecting U.S. energy security, and ensuring uninterrupted supply to U.S. markets, particularly focusing on the Midwest. Joseph Hernandez emphasized their bid not only provides strong value to creditors and bondholders but also maintains CITGO as a majority American-owned energy provider, supporting U.S. markets and consumers. Blue Water remains committed to collaborating with all stakeholders to achieve the best outcome for creditors and the U.S. energy market.
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