Citigroup nears deal to sell minority stake in Banamex to Blackstone group
Citigroup is close to selling a twenty-four percent stake in its Mexican retail unit Banamex to a group of investors. The buyer group includes Blackstone.
Insights:
Citigroup Inc. is reportedly nearing a deal to sell a 24% stake in its retail bank in Mexico 
MX, Grupo Financiero Banamex, to a group of investors that includes Blackstone Inc. . According to a report from Bloomberg News on Monday, the potential sale is currently under discussion.
MX, Grupo Financiero Banamex, to a group of investors that includes Blackstone Inc. . According to a report from Bloomberg News on Monday, the potential sale is currently under discussion.The transaction, if completed, would transfer a significant ownership interest in the bank and lead to a change in the ownership composition of Grupo Financiero Banamex. This represents a material divestiture by Citigroup and is particularly significant for the financial sector in Mexico, where Banamex is a major retail banking institution.
