The Economist – Mexico City
After almost four years that the sale of Banamex was announced, by its still owner, the American Citigroup, The future of this bank seems to be clarified.
Citigroup said Wednesday that he agreed to sell a 25% shareholding of the Banamex Financial Group to a company owned by Fernando Chico Pardo and his immediate family, for US $ 2,280 million, which marks a step towards the divestment planned by the American bank.
“Under this operation, Fernando Chico Pardo will acquire 25% (520 million shares) of the ordinary shares of Banamex, at a fixed price at an accounting value of 0.80 times its book value determining under Mexican accounting criteria at the closing date,” Citi detailed in a statement.
He will be appointed president of the Council
Citi pointed out that the operation represents the beginning of a strategic relationship with Fernando Chico Pardo.
Consequently, he said, at the end of the operation, Fernando Chico Pardo will be appointed president of the Board of Directors of the Banamex Financial Group (Banamex).
Ignacio Deschamps, meanwhile, will continue to serve as president of the National Bank Council of Méxicoor, and Manuel Romo will continue as general director of Banamex.
