Reported about 8 hours ago
Citigroup has announced the sale of a 25% stake in Grupo Financiero Banamex to billionaire Fernando Chico Pardo for 42 billion Mexican pesos ($2.28 billion), which is part of its strategy to take the unit public. The deal, expected to finalize in late 2026, values Banamex at $9.12 billion. Pardo will become the chair of Banamex, while Manuel Romo remains CEO. This transaction will result in a $726 million goodwill impairment charge for Citigroup.
Source: YAHOO