Citigroup Nears Regulatory Approval for 25% Banamex Stake Sale

Key Takeaways Mexican regulators are close to approving Citigroup's 25% Banamex stake sale to Fernando Chico Pardo.The $2.3B deal supports Citigroup's deconsolidation of its Mexican consumer banking operations.Transaction advances C's plan for a future Banamex IPO and broader global transformation.Mexican financial regulators are nearing approval of Citigroup Inc.'s (C) planned sale of a 25% stake in its retail banking unit, Grupo Financiero Banamex, according to a Bloomberg News report, which was published ...