Citigroup to Lead IPO of Consumer Banking Group in Mexico
1 report, 1 independent
Updated Sun 00:00
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What happened
Citigroup announced it is divesting from consumer banking operations in Mexico. The company is assembling a group for an initial public offering of Grupo Financiero Banamex, which could raise more than $3 billion. Citigroup is expected to lead the deal, alongside Bank of America, Goldman Sachs, and JPMorgan Chase, with the listing targeted for January.
From insidermonkey.com
Why it matters
The divestiture marks the final step in Citigroup's strategic retreat from consumer banking in markets where it was not leading. The successful IPO of Grupo Financiero Banamex is a major business development for the co-leading financial institutions.
From insidermonkey.com
Who's involved
- CitigroupLeading the IPO of Grupo Financiero Banamex, a strategic divestiture of consumer banking in Mexico.
- Goldman SachsCo-leading the IPO of Grupo Financiero Banamex alongside Citigroup.
- Bank of AmericaCo-leading the IPO of Grupo Financiero Banamex alongside Citigroup.
- JPMorgan ChaseCo-leading the IPO of Grupo Financiero Banamex alongside Citigroup.
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The entities involved
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Citigroup
American investment bank and financial services corporation
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