Citi Announces Completion of 22.6% of Sale of Equity Stake in Banamex

Fernando Chico Pardo, Chairman of the Board of Banamex said, "We take great pride in these partners' commitment to Mexico and its outlook, in addition to their confidence in our management of Banamex. The closing of these transactions, together with my acquisition of a 25% stake, will place nearly 49% of Banamex in the hands of new investors, bringing us closer to completing the divestment process from Citi".

As previously noted, the divestiture of Banamex remains a strategic priority for Citi. Any decisions related to the timing and structure of the proposed Banamex initial public offering ("IPO") and any additional sales will continue to be guided by several factors, including, among other things, financial considerations, market conditions and receipt of regulatory approvals.

Citi's Banking group acted as the exclusive financial advisor to Citi on the transactions. Skadden, Arps, Slate, Meagher & Flom LLP is acting as Citi's U.S. legal advisor. García-Cuéllar, Aiza y Enríquez, SC and White & Case, S.C. are acting as Citi's Mexican legal advisors.