Archive · 12 Dec 2025
Mexico Approves Billionaire's Banamex Stake Purchase
A very rich man named Fernando Chico Pardo is about to buy a big part of a bank in Mexico called Banamex.
The bank, Citigroup, is selling this part because it wants to focus on other things.
The Mexican government is almost done checking if this deal is okay.
If it is, Chico Pardo will become the leader of Banamex and his sons might help him later.
This deal is worth a lot of money, about $2.3 billion.
Another rich man tried to buy this part of the bank too, but Citigroup chose Chico Pardo's offer instead.
Mexican authorities are close to approving Fernando Chico Pardo's 25% stake purchase in Banamex.
The deal is expected to close in the second half of 2026, subject to regulatory approvals.
Citigroup CFO Mark Mason suggested the deal could close sooner than expected.
Chico Pardo will become the chairman of Banamex's board upon deal completion.
Citigroup is selling smaller stakes of Banamex to other investors ahead of a planned share offering.
- Who
- Billionaire Fernando Chico Pardo
- What
- Purchase of a 25% stake in Banamex
- When
- Expected completion in the second half of 2026
- Where
- Mexico
- Why
- Citigroup is seeking to sell its retail-banking operations in Mexico
- Billionaire
- Fernando Chico Pardo
- Stake
- 25%
- Bank
- Banamex
- Deal Value
- 42 billion pesos ($2.3 billion)
- Expected Completion
- Second half of 2026
- Citigroup CFO
- Mark Mason
- Chico Pardo's Role
- Chairman of Banamex's board