M&A Deal Summary

Citi Acquires Grupo Financiero Banamex

On May 17, 2001, Citi acquired financial services company Grupo Financiero Banamex for 12.5B USD

Acquisition Highlights
  • This is Citi’s 4th transaction in the Financial Services sector.
  • This is Citi’s 2nd largest (disclosed) transaction.
  • This is Citi’s 1st transaction in Mexico.

M&A Deal Summary

Date 2001-05-17
Target Grupo Financiero Banamex
Sector Financial Services
Buyer(s) Citi
Deal Type Add-on Acquisition
Deal Value 12.5B USD

Target

Grupo Financiero Banamex

Mexico City, Mexico
website
Grupo Financiero Banamex is a Mexican financial services company.

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Buyer(S) 1

Buyer

Citi

New York, New York, United States

website


Category Company
Founded 1812
Sector Financial Services
Employees236,304
Revenue 75.3B USD (2022)
DESCRIPTION

Citi is a global diversified financial services holding company, whose businesses provide consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management. Citi was incorporated in 1812 and is based in New York City.


DEAL STATS #
Overall 4 of 16
Sector (Financial Services) 4 of 13
Type (Add-on Acquisition) 3 of 11
Country (Mexico) 1 of 1
Year (2001) 1 of 2
Size (of disclosed) 2 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-05-14 The Robinson-Humphrey

Atlanta, Georgia, United States

The Robinson-Humphrey Co. LLC is a private client business and the municipal banking, sales and trading operations, which have been previously integrated into SSB, are not included in this transaction and their management structures remain the same.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-06-30 European American Bank

Uniondale, New York, United States

European American Bank provides commercial and retail banking services in the New York.

Buy $1.9B