Citigroup is about to sell a 24% stake in its Mexico retail bank — Bloomberg

2026-02-23 17:24:43

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Investing.com – According to Bloomberg, Citigroup is close to finalizing an agreement to sell an additional 24% stake in its Mexican retail bank to more than a dozen investors. The sale comes as Mexican billionaire Fernando Chico Pardo takes over the business.

Sources familiar with the matter told Bloomberg that the bank is negotiating to sell stakes of no more than 5% each to a group of companies and Mexican family offices. Potential buyers include Blackstone Inc., General Atlantic, the co-CEOs of Grupo Televisa SAB, Brazil’s Banco BTG Pactual SA, and Mexico’s pension fund Afore Sura, which is part of Colombia’s Sura Asset Management.

As the negotiations are private, sources requested anonymity.

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