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    GFINBUR O   MXP370641013

GRUPO FINANCIERO INBURSA, S.A.B. DE C.V.

(GFINBUR O)
  Report
End-of-day quote Mexican Stock Exchange  -  2023-02-02
41.83 MXN   +1.09%
01/23Grupo Financiero Inbursa, S.A.B. de C.V. Reports Earnings Results for the Full Year Ended December 31, 2022
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2022Grupo Mexico in advanced talks for Citi's Banamex - Bloomberg News
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2022Citi Mexico suitor Mifel enlists Apollo, ADIA to fund bid -sources
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Grupo Mexico in advanced talks for Citi's Banamex - Bloomberg News

12/05/2022 | 10:10am EST

Dec 5 (Reuters) - Tycoon German Larrea's conglomerate Grupo Mexico SAB is in advanced talks to acquire Citigroup's Mexican retail bank Banamex, Bloomberg News reported on Monday, citing people with knowledge of the matter.

The mining giant is trying to finalize deal terms with Citi, but no agreement has been reached and another buyer could emerge, the report said. The lender could also consider an initial public offering (IPO) for the unit, it added.

Citi had disclosed in January that it was looking for a buyer for the unit, which has since reportedly drawn interest from a number of firms including Mexico's Banca Mifel SA and U.S. investment firm Apollo Global Management Inc.

Proposals to buy Banamex were submitted in October by suitors, including Mexican corporate titans Carlos Slim and Larrea, people familiar with the matter told Reuters at the time. In November, Mexican bank Grupo Financiero Inbursa said it had pulled out of the bidding process.

Citigroup Chief Executive Officer Jane Fraser has moved to simplify the Wall Street giant, which has been shrinking its overseas footprint by exiting non-core markets, with agreements to sell the bank's Bahrain and India consumer businesses announced earlier this year.

Citigroup spokesperson declined to comment on the Bloomberg report, while Grupo Mexico did not immediately respond to a Reuters request for comment. (Reporting by Manya Saini in Bengaluru; Editing by Sherry Jacob-Phillips)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
APOLLO GLOBAL MANAGEMENT, INC. -1.72% 72.14 End-of-day quote.13.09%
CITIGROUP INC. 0.79% 51.23 Delayed Quote.12.45%
GRUPO FINANCIERO INBURSA, S.A.B. DE C.V. 1.09% 41.83 End-of-day quote.27.38%
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Analyst Recommendations on GRUPO FINANCIERO INBURSA, S.A.B. DE C.V.
More recommendations
Financials
Sales 2022 36 781 M 1 932 M 1 932 M
Net income 2022 20 592 M 1 082 M 1 082 M
Net Debt 2022 - - -
P/E ratio 2022 12,3x
Yield 2022 1,25%
Capitalization 256 B 13 454 M 13 454 M
Capi. / Sales 2022 6,96x
Capi. / Sales 2023 5,63x
Nbr of Employees 9 330
Free-Float 40,0%
Chart GRUPO FINANCIERO INBURSA, S.A.B. DE C.V.
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Grupo Financiero Inbursa, S.A.B. de C.V. Technical Analysis Chart | MarketScreener
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Technical analysis trends GRUPO FINANCIERO INBURSA, S.A.B. DE C.V.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 10
Last Close Price 41,83 MXN
Average target price 33,02 MXN
Spread / Average Target -21,1%
EPS Revisions
Managers and Directors
Javier Foncerrada Izquierdo Chief Executive Officer & Non-Independent Director
Ra˙l Reynal Pe˝a Director-Administration & Finance
HÚctor Slim Seade Chairman
JosÚ Ignacio JimÚnez Santos Chief Investment Officer
Laura Diez Barroso Azcßrraga Independent Director