City banking group announced on Monday that it has signed agreements to sell a 24% stake in Banamex bank to a group of institutional investors and family offices for approximately $2.5 billion. This marks a significant development in the group's strategy to optimize its asset portfolio. Under the terms of the deal, the buyers will acquire a substantial share in one of Mexico's largest banks. Analysts view this transaction as positive for both parties, as it will allow Banamex to focus on its core business while City Group can unlock capital for other investments.
