By Tatiana Bautzer Feb 23 (Reuters) – Citigroup said on Monday it had entered into agreements to sell a 24% stake in Banamex to a group of institutional investors and family offices for around $2.5 billion. Some of the investors are private equity firm General Atlantic, a unit of asset manager Sura, Banco BTG Pactual, […]
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Citi signs deal to sell 24% equity stake in Banamex
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By Tatiana Bautzer
Feb 23 (Reuters) – Citigroup said on Monday it had entered into agreements to sell a 24% stake in Banamex to a group of institutional investors and family offices for around $2.5 billion.
Some of the investors are private equity firm General Atlantic, a unit of asset manager Sura, Banco BTG Pactual, Chubb and funds managed by Blackstone, Liberty Strategic Capital, and Qatar Investment Authority.
After the sale, expected to be completed this year, Citigroup will reduce its stake in the Mexican unit to 49%.
(Reporting by Manya Saini in Bengaluru; Editing by Shinjini Ganguli and Chris Reese)