US EditionCiti’s Banamex Gets Competing Bid From Mexican Mining Tycoon
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37 Articles
Associated Press News
Independent EspañolMEXICO CITY (AP) — The Mexico Group, the largest mining and railway conglomerate in the country, announced Friday a “binding offer” to acquire 100% from Banamex, the Mexican subsidiary of the U.S. corporation Citigroup.
Germán Larrea and Fernando Chico Pardo climb to the ring of Citi! The prize? Banamex. Grupo México presented an offer to Citi to acquire 100 percent of the institution. The proposal ‘salt’ because it was just over a week ago when Chico Pardo, businessman with hotels, restaurants and spas, announced the purchase of 25 percent of the shares of the National Bank of Mexico. What decision will Citi make? And above all, what did Grupo Mexico say of th…
They want to buy 100% of the bank and to be a majority Mexican group
The Mexican conglomerate Grupo México reported in a statement that it made a binding offer for up to 100 percent of the shares of the Financial Group Banamex, retail unit of the US Citigroup. In case Fernando Chico Pardo and family wish to maintain their investment of 25 percent recently agreed with Citi, the proposal would be to acquire 75 percent, clarified the company with investments in mining, transport and infrastructure. "If the Chico fam…
Grupo México announced this Friday that it has made an offer to Citi to acquire 100% of Banamex, as reported by the business conglomerate in a statement. The firm assures that its terms are “more attractive” for Citi and that the operation would ensure that the entity stays in a majority Mexican group. “Once Banamex is regulated only by the Mexican financial authorities will be able to regain its competitive potential in our financial system,” s…
Citi’s Banamex Gets Competing Bid From Mexican Mining Tycoon
Mexican mining magnate German Larrea’s Grupo Mexico SAB offered to buy full control of Citigroup Inc.’s Banamex unit, attempting to upstage a deal to sell a stake to another Mexican billionaire and convert the lender into a publicly traded company.
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