White & Case advised Citigroup and Grupo Financiero Banamex on the ~US$2.5 billion sale of a 22.6 percent stake in Banamex

Global law firm White & Case LLP has advised Citigroup Inc. (Citi) and Grupo Financiero Banamex, S.A. de C.V. (Banamex) on the closing of the sale of an aggregate 22.6 percent of the share capital of Banamex to various prominent Mexican and international investors, announced in February by Citigroup Inc., for a total purchase price of approximately US$2.5 billion. White & Case advised on all Mexican law aspects of the transaction, including regulatory, corporate and antitrust.

This transaction is part of White & Case’s continued representation of Citi in its divestiture of Banamex, including the successful and unprecedented separation of Grupo Financiero Citibanamex into Grupo Financiero Banamex and Grupo Financiero Citi México in 2024, followed by the sale of 25 percent of Banamex to Fernando Chico Pardo in 2025.

The White & Case team was led by partner Narciso Campos, with partners Henri Capin, Eduardo Flores and Román González, local partner Fernando Vázquez Chelius, counsel Jorge Escalante and associates Andrés Sánchez, Dieter Kuhn, Germán Macías, Diego Mendoza, Juan María López and Alexandro López (all in Mexico City).