Citi sells 25% Banamex stake to Chico Pardo; records $726M goodwill impairment

CITIGROUP INC

Chico Pardo to buy 25% (520M shares) of Banamex at 0.80x book value; consideration ~MXN 42B (~$2.3B).
Citi recorded a non-cash goodwill impairment of ~$726M on Banamex reporting unit; capital neutral.
Transaction expected to close H2 2026, subject to Mexican regulatory approvals.
Chico Pardo to become Banamex Board Chair upon closing; Romo remains CEO, Deschamps stays Banco Nacional Chair.

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