Elliott Investment Wins Citgo Petroleum Auction

Elliott Investment Management, under the guise of Amber Energy, emerged victorious in a US court auction for shares in Citgo Petroleum's parent company. The deal values Citgo up to $7.286 billion, although final adjustments to the bid remain undisclosed.

Activist investor Elliott Investment Management emerged as the winner in a US court auction of shares in the parent company of Citgo Petroleum, court filings revealed on Friday.

The winning bid, placed under the alias Amber Energy, assigns an enterprise value to Citgo of up to $7.286 billion, according to court officer Robert Pincus in a filing with the U.S. District Court in Delaware.

The final value is subject to undisclosed adjustments.

(With inputs from agencies.)