The CEO of Citigroup, Jane Fraser, is located in Mexico City to have conversations with President Claudia Sheinbaum, which include the possible IPO of the Banamex retail unit, Bloomberg News reported on Monday, citing people familiar with the matter.
Reuters could not independently verify the report. Citigroup did not immediately respond to a request for comments by Reuters.
Fraser told analysts in a call in July that the Bank, based in New York, is on the way to making an initial public offer (OPI) of its Mexican Banamex unit before the end of the year.
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According to the report, Citi has been courting wealthy Mexicans to buy a part of Banamex that could become a controlling participation. In addition, it was indicated that the Mexican businessman Fernando Chico Pardo seeks to acquire approximately 20% of the Citi Banamex unit before his opi.
In 2023, CITI canceled the sale of 7,000 million dollars from its consumption unit in Mexico to the Mexican group of Mexican billionaire Germán Larrea, after tensions between the group and then President Andrés Manuel López Obrador caused the collapse of the agreement.
With Reuters information.
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