Blue Water Acquisition Corp. III Submits Substantial Bid for Citgo Petroleum Corp.’s Parent Company
New York, NY – September 5, 2025 – In a significant development within the energy sector, Blue Water Acquisition Corp. III has formally announced its submission of a $10 billion bid for PDV Holding Inc., the parent company of Citgo Petroleum Corporation. This substantial offer, detailed in a press release issued by PR Newswire Energy, marks a potentially pivotal moment for Citgo, a prominent player in the U.S. refining and marketing landscape.
The submission of this considerable bid underscores Blue Water Acquisition Corp. III’s strong interest in acquiring a key asset within the downstream petroleum industry. Citgo Petroleum Corporation, with its network of refineries and retail operations across the United States, represents a strategic opportunity for growth and integration into existing energy portfolios.
While specific details regarding the terms and conditions of the bid have not been fully disclosed, the announcement itself signals a serious intent and a comprehensive approach by Blue Water Acquisition Corp. III. The company’s investment of $10 billion reflects a confident valuation of PDV Holding Inc. and its subsidiary, Citgo.
The potential acquisition could have wide-ranging implications, influencing market dynamics, competition within the refining sector, and the future operational direction of Citgo. Stakeholders, including investors, employees, and industry analysts, will undoubtedly be monitoring the progression of this bid with keen interest.
The announcement from PR Newswire Energy serves as an initial notification of Blue Water Acquisition Corp. III’s formal engagement in the pursuit of PDV Holding Inc. Further announcements and disclosures are anticipated as the bidding process unfolds. The industry will be watching closely to see how this substantial offer progresses and what the ultimate outcome may be for Citgo Petroleum Corporation.
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PR Newswire Energy published ‘Blue Water Acquisition Corp. III Announces Submission of $10 Billion Bid for PDV Holding Inc., Parent of Citgo Petroleum Corp.’ at 2025-09-05 20:24. Please write a detailed article about this news in a polite tone with relevant information. Please reply in English with the article only.