Citigroup seeks satisfactory agreement for shareholders with the sale of Banamex

“We are in those discussions and working toward an agreement. We are very pleased with the progress that is being made,” Mason said on Citigroup’s year-end 2022 earnings call on Friday.

The executive said that the agreement will be satisfactory for the shareholders and refused to have a specific date for the announcement, although in December Citibanamex said that they were following the purchase-sale calendar, so the announcement is expected to take place during the first quarter of this year.

The two business groups interested are Grupo México, owned by Germán Larrea, and Grupo Mifel, whose general director is the current president of the Association of Banks of Mexico.