Amber Energy Inc. has announced that it has been approved as the acquirer of PDV Holding, Inc. (PDVH), the parent of CITGO Petroleum Corporation, through a sale of shares, by Judge Leonard P. Stark of the United States District Court for the District of Delaware. The transaction is expected to close in 2026, pending regulatory approvals and the satisfaction of other closing conditions.
Latham & Watkins LLP represented the financing sources in the transaction with a team led by Stelios Saffos, Global Chair of Latham’s Capital Markets Practice, and partners Peter Sluka, Mike Waldman, John Miller, John Sobolewski, and Tracey Zaccone, with associates Christian DeSimone, Matt DeSilva, and Elina Stavropoulou. Advice was provided on restructuring matters by partners Andrew Parlen, Adam Goldberg, and Christopher Harris, with associate TJ Li; on real estate matters by counsel Jeffrey Anderson; on uniform commercial code matters by partner Brian Rock; and on tax matters by partners Bora Bozkurt and Christine Mainguy, with associate Kathryn Harrington.
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