Blue Water Submits $10 Billion Bid to Acquire CITGO Assets, Seeks Court Approval

Blue Water Venture Partners has requested court approval for a $10 billion bid to acquire CITGO Petroleum Corporation, surpassing previous bids from Amber Energy and Gold Reserve. The proposal includes a $10 billion total bid value, creditor flexibility, a bondholder settlement fund, and reduced closing risk. Blue Water Acquisition Corp. III, an affiliated entity, is a special purpose acquisition company formed to identify and complete business combinations with high-potential companies.