Overview

• The stake sale is valued at roughly 42,000 million pesos, or about 2.3 billion dollars, and remains subject to Mexican regulatory approval.
• Completion is targeted for the second half of 2026 under customary closing conditions.
• At closing, Chico Pardo will become president of Grupo Financiero Banamex, while Ignacio Deschamps and Manuel Romo stay in their roles until then.
• Citi plans to proceed toward an IPO for the remaining Banamex shares, guided by market conditions and approvals.
• President Claudia Sheinbaum welcomed the deal after being briefed in advance, and Chico Pardo called it a personal, long‑term investment he does not intend to increase.