Amber Energy to acquire CITGO
The company was selected by the Special Master appointed by the US District Court to oversee the sale of PDV Holding.
Amber Energy has announced that it has been selected as the acquirer of PDV Holding, the parent of CITGO Petroleum Corporation.
The decision was taken by Robert Pincus, the Special Master appointed by the United States District Court for the District of Delaware to oversee the sale of PDV Holding, Inc. Amber is a U.S.-based group of energy executives backed by a group of strategic U.S. energy investors, including Elliott Investment Management L.P.
The company is committed to further strengthening CITGO as a leader in the refining, transportation, and marketing of products vital to the economy.
“Building upon CITGO’s legacy, and with a focus on the future, we will prioritize operational excellence to lay a foundation for stability, strength, and long-term success for the benefit of the Company’s people, customers, and communities,” said Gregory Goff, Chief Executive Officer of Amber Energy.
The transaction is expected to close in mid-2025, pending certain regulatory and other approvals. These include approval by the U.S. District Court for the District of Delaware, and the satisfaction of certain conditions including those related to the Court process.
