The process of sale of Banamexthe retail business of Citigroupcontinues its course and is in a process of diligence and accounting analysis, revealed this Friday the secretary of Treasury and Public Credit, Rogelio Ramírez de la O.
“They’re already in a due diligence process, where they’re looking at accounting, account turnover, and they’re trading on margin,”
assured the Mexican official in the framework of the 86th Banking Convention that takes place in Mérida, in the southern Mexican state of Michoacán.
He pointed out that, although the negotiators are still adjusting the sale figure, the Government of Mexico does not know more than the information they require as an authority, as well as that the sellers and buyers are not interested in making the details of the transaction public.
We don’t know that because we don’t want to know, because sellers and buyers aren’t necessarily interested in that information coming out either ”,
commented.
The Mexican Treasury Secretary also stated that the Mexican Government is satisfied with potential buyers and assured that they remain close to facilitate the buying-selling process.
We are interested in the bank, when a buyer arrives, be done quickly so that there are no issues of instability or bad expectations within the institution”,
added.
For his part, he recalled that the Mexican president himself, Andrés Manuel López Obrador, has expressed his desire that Banamex be acquired by Mexicans and that the bank’s cultural heritage does not leave the country.
In January of last year, Citigroup announced the sale of its Banamex retail business and recently expressed that, despite this process, the US financial group will maintain its presence in the country.
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