Mining giant Grupo Mexico once again bids for Citi's local retail unit-March 2024-www.financetom.com

Mining giant Grupo Mexico once again bids for Citi's local retail unit

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Mining giant Grupo Mexico once again bids for Citi's local retail unit

Oct 3, 2025 3:57 PM

MEXICO CITY, Oct 3 (Reuters) - Mexican mining and

transportation giant Grupo Mexico has submitted a

binding offer to purchase Citi's retail unit in the country,

known as Banamex, it said in a filing on Friday.

The offer comes after the conglomerate bowed out of the race

to purchase the firm in 2023. Last week, billionaire Fernando

Chico Pardo and Citi tied up a deal for a 25% stake in Banamex.

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