Citigroup Sells 24% Stake in Banamex for $2.5 Billion: Qatar Investment Authority and Blackstone Among Major Buyers

Citigroup announced on Monday it has entered agreements to sell a 24% stake in its Mexican unit, Banamex, to a high-profile group of institutional investors and family offices for approximately $2.5 billion. The buyer consortium includes the Qatar Investment Authority (QIA), Blackstone, General Atlantic, and Liberty Strategic Capital, with each investor capped at a 4.9% share.

This transaction follows a previous 25% sale in December, effectively reducing Citi’s ownership to 49% once completed this year. Citigroup stated it would pause further sales in 2026 to allow the current investor group to stabilize and build value. Ernesto Cantu, Head of International Operations at Citi, reaffirmed the bank’s commitment to an eventual Initial Public Offering (IPO) for Banamex, pending market conditions and regulatory nods.