Delaware court will not seek a stalking horse bid in Citgo auction

By Marianna Parraga

HOUSTON (Reuters) – The U.S. federal court officer overseeing an auction of shares in oil refiner Citgo Petroleum’s parent to pay Venezuela-linked creditors said on Monday he will not seek a stalking horse bid to set a minimum price for the shares.

Potential bidders will be approached by the court, or they may also seek to be included in the sales process, wrote Special Master Robert Pincus in a filing. It will keep two rounds of bidding.

The court’s final sale hearing date was set tentatively for next July 15, Pincus wrote.