On Wednesday, Citigroup Inc. (C.N) announced its Banamex consumer, small business, and middle-market banking operations in Mexico will be listed.
A source told Reuters earlier this month that Grupo Mexico (GMEXICOB.MX) was in talks to buy the unit.
More than a year ago, Citi CEO Jane Fraser disclosed plans to sell the arm as part of a strategy makeover to quit 14 consumer banking markets in Asia, Europe, the Middle East, and Mexico.
The global bank expects IPO completion in 2025. Citi lost 1.7% premarket.
