US EditionGrupo Mexico Says It Won't Enter a Bidding War for Citigroup's Banamex - Report (C:NYSE)
21 Articles
21 Articles
Grupo México seeks to acquire up to 100% of Banamex from Citigroup
Mexican conglomerate Grupo México has submitted a binding offer to acquire up to 100% of Banamex from Citigroup, reviving negotiations that had been scrapped in 2023 and proposing alternatives that include partnering with the recent buyer of 25% of the bank. Owned by magnate Germán Larrea, Grupo México is a multinational conglomerate in the mining, transportation and infrastructure industries. It owns Mexico’s largest mining company and is the c…
The shares of Grupo México (GMEXICO) fell 15.43 percent in the Mexican Stock Exchange (BMV), at a price of 135.99 pesos, from the 160.81 pesos in which it closed last Friday. The titles of the national conglomerate that includes mining, transport and infrastructure divisions were strongly affected by the realization of a binding offer by 100 percent of the Banamex Financial Group. It is estimated that this operation would affect the finances of …
Mexican billionaire Germán Larrea offered to buy total control of Citi's subsidiary Banamex at a slightly higher price than his rival had proposed for a minority stake.Even so, it is still a risky gamble.Larrea, one of the world's largest copper miners, reactivated his offer by Financial Group Banamex on Friday night, October 3, after his initial attempt to buy Citigroup's retail banking division failed in 2023How much does the shares of Grupo M…
Reading time approx.: 3 minutes, 9 secondsThe previous day, the shares of the conglomerate with presence in the mining, railway and infrastructure sectors sank 15.43%, dragging in its path to the Mexican Stock Exchange (BMV). The news of buying the totality of the fourth largest bank of the system aroused fears of diversion of resources and of a greater leverage. The conglomerate Grupo Mexico asserted on Tuesday that its plans to buy 100% of the…
Cd. of Mexico.- If the offer made by Grupo Mexico by Banamex last Friday is accepted, it will not require a significant increase in debt for the company, because even to realize 100 percent of the sale, the operation would be less than 2 billion dollars, warned in a statement the national conglomerate that includes divisions of mining, transport and infrastructure. "The maximum credit that could be required to materialize the operation for 100 p…
Coverage Details
Bias Distribution
- 60% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
