(Reuters) -Citigroup said on Wednesday it has agreed to sell an equity stake in Grupo Financiero Banamex to a company owned by Fernando Chico Pardo and his immediate family, marking a step toward the firm’s planned divestiture of the unit.
Citigroup will sell a 25% stake in Banamex for 42 billion Mexican pesos, equivalent to $2.3 billion. The bank said in a filing the transaction is expected to close in the second half of 2026.
(Reporting by Tatiana Bautzer in New York and Prakhar Srivastava in Bengaluru; Editing by Alan Barona)
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