Business

Contrarian Funds' $3.7 billion offer recommended as starting bid in Citgo parent auction

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A U.S. court officer overseeing an auction of shares in the parent of Venezuela-owned refiner Citgo Petroleum is recommending a judge choose a $3.7 billion offer by an affiliate of Contrarian Funds to set the floor for a new bidding round this year, according to a court filing on Friday.

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