Citi enters $2.5bn deal to sell 24% of Banamex to investors

Citigroup has agreed to merchantability a 24% involvement successful Grupo Financiero Banamex to a radical of organization investors and household offices, arsenic portion of its planned exit from its Mexican retail banking unit.

The buyers, which see organisations specified arsenic General Atlantic, Afore SURA, Banco BTG Pactual, Chubb, Blackstone-managed funds, Liberty Strategic Capital, and Qatar Investment Authority, volition acquisition a combined 499 cardinal shares.

The agreed terms for the shares is astir $2.5bn, with each purchaser constricted to a maximum involvement of 4.9%.

The transaction values Banamex astatine astir 0.85 times its publication worth and 1.01 times tangible publication worth according to section accounting standards.

Completion of these transactions is taxable to regulatory support successful Mexico and different customary conditions.

The deals are expected to adjacent successful 2026.

This determination follows the closure successful December 2025 of a abstracted transaction successful which Fernando Chico Pardo, who chairs the Banamex committee and is its largest backstage shareholder, acquired a 25% involvement successful the company.

He was progressive successful selecting the caller shareholders and volition enactment successful incorporating them into the business.

Upon completion of these sales, Citi volition person divested 49% of Banamex.

Citi caput of International Ernesto Torres Cantú said: “We are honoured to person the backing of these buyers arsenic we hole for Banamex’s projected archetypal nationalist offering.

“Their concern is simply a further endorsement of Banamex’s semipermanent strategy, marketplace enactment and maturation prospects, and their committedness solidifies Banamex’s foundational presumption wrong Mexico’s banking system.”

The slope confirmed it does not program further income successful 2026, intending for the existent capitalist radical to absorption connected processing Banamex.

Citi said that selling Banamex remains a cardinal nonsubjective and that immoderate decisions astir a imaginable nationalist listing oregon further stock income volition see marketplace conditions, fiscal factors, and regulatory approvals.

Outside of Mexico, Citi besides noted advancement towards completing the merchantability of its user banking operations internationally, including the signing of an statement to merchantability its user concern successful Poland.

"Citi enters $2.5bn woody to merchantability 24% of Banamex to investors " was primitively created and published by Retail Banker International, a GlobalData owned brand.

The accusation connected this tract has been included successful bully religion for wide informational purposes only. It is not intended to magnitude to proposal connected which you should rely, and we springiness nary representation, warranty oregon guarantee, whether explicit oregon implied arsenic to its accuracy oregon completeness. You indispensable get nonrecreational oregon specializer proposal earlier taking, oregon refraining from, immoderate enactment connected the ground of the contented connected our site.