Well, well, well...This is interesting. It still appears that Citgo's valuation is around $7 billion and GRZ might be one of the buyers.
On the surface I see good and bad. The good is that we can put our $1.24 billion towards the purchase of Citgo and guarantee we won't be left out if the final bid doesn't leave enough to pay us.
I guess the bad news is that massive dividend check I was expecting since 2012 might not come since we won't receive any actual cash.
But, if GRZ does bid and we are outbid, that should increase the chance of receiving our award.
This is getting fun. We just need to US Department of Treasury and the White House to not get in the way.
Venezuela Creditors Seek JPMorgan Help for $7 Billion Citgo Bid