Banca Mifel Still in Bidding Process for Citibanamex Purchase
December 15, 2022 at 07:34 am EST
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The head of Mexico-based Banca Mifel has said that the bidding process for Grupo Financiero Citibanamex, S. A. de C. V. is still ongoing, Reuters has reported. Citigroup Inc. (C.N) is looking to sell its Mexican retail bank, Citibanamex, to focus on its core businesses. Banca Mifel and Grupo México, S.A.B. de C.V. (BMV:GMEXICO B) are in the race for the assets.
Grupo Mexico, S.A.B. de C.V. is a holding company. The Company's principal activities are in the mining-metallurgic industry, the exploration, exploitation and benefit of metallic and non-metallic ores, multimodal freight railroad service, and infrastructure development. The Company's business lines include Mining, Transportation and Infrastructure. Its Mining Division is represented by its subsidiary Americas Mining Corporation, whose subsidiaries are Southern Copper Corporation in Mexico and Peru, and Asarco in the United States. Its Transportation Division is represented by its subsidiaries Infraestructura y Transportes Mexico, S.A. de C.V. and Grupo Mexico Transportes S.A. de C.V. Its subsidiaries are Grupo Ferroviario Mexicano, S.A. de C.V., Ferrocarril Mexicano, S.A. de C.V., Ferrosur, S. A. de C. V., Intermodal Mexico, S.A. de C.V., and Texas Pacifico, LP, Inc. Its Infrastructure Division is represented by its subsidiary Mexico Proyectos y Desarrollos, S.A. de C.V.
GRUPO MÉXICO, S.A.B. DE C.V. 
