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Citigroup sells 25% stake in Banamex to Mexican billionaire Fernando Chico Pardo
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Citigroup sells 25% stake in Banamex to Mexican billionaire Fernando Chico Pardo
Sep 24, 2025 1:53 PM

(Reuters) -Citigroup ( C/PN ) said on Wednesday it has agreed to sell an equity stake in Grupo Financiero Banamex to a company owned by Fernando Chico Pardo and his immediate family, marking a step toward the firm's planned divestiture of the unit.

Citigroup ( C/PN ) will sell a 25% stake in Banamex for 42 billion Mexican pesos, equivalent to $2.3 billion. The bank said in a filing the transaction is expected to close in the second half of 2026.

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