Citi Said to Seek Final Bids for Mexico Unit by End of October, warns Bloomberg Law

From Bloomberg Law:

Citigroup Inc. is seeking a second and perhaps final round of bids for its Mexican retail arm Banamex by the end of October in what could be one of the year’s biggest banking deals, according to people familiar with the matter.

Carlos Slim’s Grupo Financiero Inbursa, the Mexican bank Grupo Financiero Banorte and mining tycoon German Larrea are expected to submit final bids, they said. Advent International-backedGrupo Financiero Mifel, a small Mexican firm, is leading a group of investors that will present an offer, Mifel said in a statement.

Banorte and Citigroup declined to comment. …

Continue reading Citi Said to Seek Final Bids for Mexico Unit by End of October on Bloomberg Law

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