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Citigroup expects sale or IPO of Mexico consumer business next year

Citigroup expects sale or IPO of Mexico consumer business next year

Reuters · 09/13/2022 15:24
Citigroup expects sale or IPO of Mexico consumer business year

- Citigroup Inc C.N expects to divest its Mexican consumer business via a sale or initial public offering that could happen year, its chief financial officer said on Tuesday.

"We're going to make sure we get the best value for it through a sale or through an alternative exit, an IPO or whatever it takes," CFO Mark Mason told a Barclays investor conference.

In January, Citi announced it would exit Mexico as part of a plan to bring Citigroup's profitability and share price performance in line with its peers.



(Reporting by Saeed Azhar and Manya Saini; Editing by Leslie Adler)

((Saeed.Azhar@thomsonreuters.com; +1 347 908-6341; Reuters Messaging: saeed.azhar.reuters.com@reuters.))