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Citigroup in talks with interested Banamex buyers

Mexico City, Mexico — Citi has already started talks with potential Banamex buyers. In a news conference, Citi’s chief financial officer, Mark Mason, referred to the sale as a “once-in-a-lifetime opportunity”.

Mason said that the separation of the consumer business in Mexico is a complex process, including the sale, but they have started a first round of talks with interested parties.

“It’s a complex separation and it will take time. We are in early discussions with buyers and with our partners. Like any transaction of this size and complexity, it will take time,” he stated.

Citigroup did not provide further information regarding a “data room” that, according to Citibanamex CEO Manuel Romo, would open in March to potential buyers of the retail business.