Deals
Carlos Slim’s Inbursa No Longer Seeks to Buy Citi’s Banamex
- Inbursa says it mutually agreed with Citi to exit sale process
- Grupo Mexico owner Larrea, Banca Mifel only known bidders left
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Billionaire Carlos Slim’s bank Grupo Financiero Inbursa SA is no longer vying to buy Citigroup Inc.’s Mexican retail banking arm Banamex, leaving only two known contenders for the acquisition.
“Following submission of a non-binding proposal for the businesses in question, the parties mutually agreed that Inbursa will not be continuing to the next stages of the process,” Inbursa said in a filing Wednesday with the Mexican stock exchange.