(Adds quotes, details on deal)
MERIDA, Mexico, March 17 (Reuters) - Mexico's government
is "satisfied" with the sale process of Citigroup's Mexican retail bank Citibanamex, Finance Minister Rogelio
Ramirez de la O said on Friday, adding that the bank is now in
the due diligence process with potential buyers.
Speaking at an annual banking conference in the southern
city of Merida, the minister added that he had not heard any
news that either of the two remaining bidders had dropped out of
the race for Citibanamex.
Billionaire German Larrea's conglomerate Grupo Mexico and the head of Mexico's Mifel bank Daniel Becker are the last two bidders for the bank.
"We have not been aware that either of the two have left
(the process)," the finance minister said.
Citigroup announced in January 2022 it
would exit Citibanamex
, ending its 20-year retail presence in Mexico that was the
last of its overseas consumer businesses.
Reuters had previously reported that Grupo Mexico had
emerged as the front-runner to buy the consumer banking unit
over rival bidder Becker, having secured a $5 billion debt
package for its proposed,
citing sources.
In February, Citigroup's Chief Executive Jane Fraser met
with Mexican President Andres Manuel Lopez Obrador amid the
bank's attempt to finalize the sale of its local unit.
(Reporting by Noe Torres; Writing by Anthony Esposito; Editing
by Isabel Woodford)
