The company clarified that it has no ties to the lawsuit filed by Oswaldo Cisneros’ successors
The Daily Journal.- Cisneros Organization (OC) formally distanced itself from the lawsuit that Oswaldo Cisneros’ estate filed against the Venezuelan state over the reversal of the Petrodelta oil concession, a claim totaling US$2 billion.
Through a dossier sent to media outlets, the corporation clarified that three separate business groups operate under the Cisneros name. It stated that they conduct independent businesses with no ties to one another.
The document explains that three corporate and family milestones shaped the current structure: the 2008 split, when Gustavo and Ricardo Cisneros formally divided the holding company; Oswaldo Cisneros’ death in 2020; and Gustavo Cisneros’ death in 2023. “The most significant difference among the three groups lies not in the sectors in which they invest, but in how they govern themselves,” the document stated.
Cisneros Organization, led by Adriana Cisneros, maintains a diversified portfolio that includes a 10% stake in AST SpaceMobile. Its portfolio also includes the Tropicalia/Four Seasons real estate development in the Dominican Republic, Venevisión and the Intrépida Fund, which aims to raise between US$1 billion and US$2 billion.
The fund, which has already raised two-thirds of its target, will focus on agribusiness, infrastructure, telecommunications and tourism, while explicitly excluding the hydrocarbons sector.
Meanwhile, Oswaldo Cisneros’ estate manages investments in Digitel and Central Azucarero Portuguesa, as well as the Petrodelta claim. The third branch, Cisneros Corporation, which belongs to Ricardo Cisneros’ heirs, controls Cervecería Regional, Leones del Caracas and Corimon, and holds a stake in Petrocabimas, a joint venture with Pdvsa.
With information from a press release.
