HOUSTON (Reuters) -A U.S. federal judge on Monday confirmed a $3.7 billion offer by Contrarian Funds’ affiliate Red Tree Investments as the starting bid in an auction of shares in the parent of Venezuela-owned refiner Citgo Petroleum to pay creditors and bondholders, according to a court filing.
The offer had been recommended by a court officer overseeing the auction due to its certainty of closure.
(Reporting by Marianna Parraga; Editing by Chris Reese)
