UPDATE 1-Citi nears Banamex stake sale to investor group including Blackstone, Bloomberg News reports

سيتي جروب إنك -0.04%
مجموعة بلاكستون -1.12%

Citigroup Inc.

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115.25

-0.04%

Blackstone Inc.

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113.05

-1.12%

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- Citigroup C.N is nearing a deal to sell a 24% stake in its Mexican retail bank Grupo Financiero Banamex to a group of investors that includes Blackstone BX.N, Bloomberg News reported on Monday, citing people familiar with the matter.

The move would follow a 25% stake sale in Banamex late last year to a company owned by Mexican billionaire Fernando Chico Pardo and his family.

Citi declined to comment on the report. Reuters could not independently verify the report.

The report added that the U.S. lender is discussing offloading stakes smaller than 5% each to a group of companies and Mexican family offices, including General Atlantic, the co-CEOs of Grupo Televisa SAB, Brazilian bank Banco BTG Pactual SA and Afore Sura, and the Mexican pension fund of Colombia's Sura Asset Management.