Citigroup Plans Spin-out, IPO of Mexico-based Banamex
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One way or another, Citigroup is ready to bid adiós to its Mexico-based Banamex unit.
After an attempt to sell Banamex proved fruitless, Citigroup announced Wednesday it now plans for a spin-off and eventual IPO of the consumer bank, the fourth largest in Mexico by assets and loans, in a process that may take years to complete.
Source Fool.com
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