Citigroup Agrees to Sell 24% Banamex Stake, Moves Closer to IPO Plan

Key Takeaways Citigroup agrees to sell 24% of Banamex to investors for $2.5B, cutting its Mexican stake further.After the deal, Citigroup will have divested 49% of Banamex shares, pausing sales in 2026.The transaction involves global investors and supports Banamex's strategy ahead of a potential IPO.Citigroup Inc. (C) announced agreements with several investors for commitments to purchase an aggregate 24% equity stake in Grupo Financiero Banamex, S.A. de C.V (Banamex). The deal represents another significan ...