Citi nears Banamex stake sale to investor group including Blackstone, Bloomberg News reports

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Dystopian AI report sinks payment and software stocks Gold prices rise on Trump tariff jitters; Russia sold gold holding in January These 2 chip stocks are new Top Picks at Citi Dow slides 700 points on Trump tariff turmoil, Nasdaq falls on AI research report (South Africa Philippines Nigeria) Citi nears Banamex stake sale to investor group including Blackstone, Bloomberg News reports By Reuters Stock Markets Published 02/23/2026, 12:35 PM Updated 02/23/2026, 01:00 PM Citi nears Banamex stake sale to investor group including Blackstone, Bloomberg News reports 0 C -5.07% BX -6.08% SIS 0.96% BPAC11 -2.11% Feb 23 - Citigroup is nearing a deal to sell a 24% stake in its Mexican retail bank Grupo Financiero Banamex to a group of investors that includes Blackstone , Bloomberg News reported on Monday, citing people familiar with the matter. The move would follow a 25% stake sale in Banamex late last year to a company owned by Mexican billionaire Fernando Chico Pardo and his family. Citi declined to comment on the report. Reuters could not independently verify the report. The report added that the U.S. lender is discussing offloading stakes smaller than 5% each to a group of companies and Mexican family offices, including General Atlantic, the co-CEOs of Grupo Televisa SAB, Brazilian bank Banco BTG Pactual SA and Afore Sura, and the Mexican pension fund of Colombia’s Sura Asset Management. The stake sale, if it goes through, will mark another win for Citi’s efforts to divest its Banamex ownership, after years-long struggle to find an investor or acquirer. The potential deal also marks the latest move in Citi’s retreat from Latin America, where the bank was once a player in retail banking in Brazil, Argentina and Colombia. The stake sale in December to Mexico’s Pardo, who as part of the deal became Banamex chairman, triggered a goodwill impairment charge - usually recorded when an asset is sold below the price it is b...