<p>When the hedge fund Elliott Management pursued the acquisition of the oil refinery business Citgo a few years ago, the deal was already a complicated one. A US court had ordered its current owner, Venezuela, to sell the business, and the country was not happy about it. But, things only got thornier after the US President Donald Trump removed the Caribbean nation’s leader Nicolás Maduro. The FT’s US investment correspondent Amelia Pollard and hedge fund correspondent Costas Mourselas explain how Elliott often thrives pursuing complex deals, and how they might navigate closing this one.&nbsp;&nbsp;&nbsp;&nbsp;</p><br><p>Clips from Citgo, CNN, Norges Bank Investment Management, The White House, VTV&nbsp;&nbsp;&nbsp;</p><br><p>The FT does not use generative AI to voice its podcasts.</p><br><p>- - - - - - - - - - - - - - - - - - - - - - - - - -&nbsp;</p><br><p><strong>For further reading:</strong></p><p><a href="https://www.ft.com/content/27387730-f26d-4e0b-a8d2-62e4f12d1821" rel="noopener noreferrer" target="_blank">Donald Trump’s removal of Maduro clouds fate of Elliott’s Citgo deal</a></p><p><a href="https://www.ft.com/content/6f0f7b92-e6dc-45d1-b065-58acf314e8a9" rel="noopener noreferrer" target="_blank">How Venezuela lost Citgo</a></p><p><a href="https://www.ft.com/content/2c04228d-2f2b-49d7-bbed-974053e285b9" rel="noopener noreferrer" target="_blank">Hedge funds hunt for Venezuela’s unpaid financial claims</a></p><br><p>- - - - - - - - - - - - - - - - - - - - - - - - - -&nbsp;</p><br><p>Follow Costas Mourselas on X (<a href="https://x.com/CostasMourselas" rel="noopener noreferrer" target="_blank">@CostasMourselas</a>) and Bluesky (<a href="https://bsky.app/profile/costasmourselas.bsky.social" rel="noopener noreferrer" target="_blank">@costasmourselas.bsky.social</a>). Amelia Pollard is on X (<a href="https://x.com/ameliajpollard" rel="noopener noreferrer" target="_blank">@ameliajpollard</a>) and Bluesky (<a href="https://bsky.app/profile/pollard.bsky.social" rel="noopener noreferrer" target="_blank">@pollard.bsky.social</a>). <a href="https://www.ft.com/michela-tindera" rel="noopener noreferrer" target="_blank">Michela Tindera</a> is on X (<a href="https://twitter.com/mtindera07" rel="noopener noreferrer" target="_blank">@mtindera07</a>) and Bluesky (<a href="https://bsky.app/profile/mtindera.ft.com" rel="noopener noreferrer" target="_blank">@mtindera.ft.com</a>), or follow her on LinkedIn for updates about the show and more.&nbsp;</p><br><p><a href="https://www.ft.com/content/c8364bbb-4555-47dc-85d3-fc75f21ea6a3" rel="noopener noreferrer" target="_blank"><strong>Read a transcript of this episode on FT.com</strong></a></p><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>