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Citigroup expects sale or IPO of Mexico consumer business next year

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Posted on September 13, 2022
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NEW YORK — Citigroup Inc expects to divest its Mexican consumer business via a sale or initial public offering that could happen next 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)

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