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Inbursa announces interest in purchasing Citibanamex

Mexico City, Mexico — Carlos Slim says his bank is also interested in acquiring Banamex, but will move forward with help of investors and partners. Slim’s Grupo Financiero Inbursa is planning the purchase of Banamex with Mexican investors.

“We maintain the same interest. Inbursa will participate jointly with Mexican negotiators and investors. We are not going alone,” said Frank Ernesto Aguado, Inbursa’s Director of Credit and Investor Relations.

The news came after Citbanamex opened its data room last month, which will allow the start of the purchase process for interested parties. The bank says that process is expected to take around two years.

Both Banamex and Banorte have also expressed interest in purchasing the Mexican side of the Citigroup bank.