Citi may sell more Banamex stakes, CFO says [Yahoo! Finance]
Citigroup, Inc. (C)
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Source: Yahoo! Finance
Citi is considering selling more stakes in its Mexican retail-banking unit Banamex while continuing to prepare for a public sale of its remaining shares, CFO Mark Mason said Wednesday. “We are actively looking at selling some additional, smaller stakes as we lead up to an [initial public offering],” Mason said Wednesday during a media call on the bank's fourth-quarter earnings. The bank closed the sale of the 25% stake in Banamex to Mexican billionaire Fernando Chico Pardo in mid-December, after the agreement was announced in September The closing “happened a lot faster than we had forecasted,” Mason said Wednesday during the media call. The deal had been set to close in the second half of 2026. He chalked that up to the support Chico Pardo has as a business leader in Mexico, the strength of the bank's Mexican retail footprint and “smart decisioning” on Citi's part to maximize value. Chico Pardo offered 80% of book value, or about $2.3 billion, for the stake. “ That 25% tra
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News
- Citigroup (NYSE:C) had its "neutral" rating reaffirmed by analysts at UBS Group AG.MarketBeat
- Citigroup (NYSE:C) had its "outperform" rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $121.00 price target on the stock.MarketBeat
- Citigroup (NYSE:C) was given a new $135.00 price target on by analysts at Piper Sandler.MarketBeat
- Citigroup (NYSE:C) had its "overweight" rating reaffirmed by analysts at Morgan Stanley.MarketBeat
- Citigroup (NYSE:C) was given a new $144.00 price target on by analysts at Oppenheimer Holdings, Inc..MarketBeat
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- 1/15/26 - Miss
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- C's page on the SEC website