Mexican businessmen who want to buy Citibanamex PHOTOS)
MÉRIDA.- Who wants buy Citibanamex and because? American banking group Citigroup announced last Tuesday, January 11, that it will close its operations in Mexico through Citibanamex, which are retail banking and small and medium-sized companies.
This announcement implies such operations of Banamex in Mexico are up for sale. Given this, several names of possible buyers have emerged, all high level entrepreneurs and several of them already owners of other banks.
Along with this is the desire of President Andrés Manuel López Obrador, who yesterday expressed his desire to “Mexicanize this bank, which belonged to Mexicans; the National Bank of Mexico was born in the 19th century.”
Who are the businessmen who want to buy Citibanamex?
In a video from the National Palace, the president celebrated that the tycoon Ricardo Salinas Pliego, owner of Banco Azteca, has expressed interest in buying it. And he considered that the same could be thought of Carlos Slim of Inbursa, of Carlos Hank González of Banorte and Jose Javier Garza Calderon and a group of investors from Nuevo León.
Another businessman who has expressed his interest in Citibanamex is Alfonso Jimenez Perez who has already offered 16,000 million dollars in cryptocurrencies. Banamex is valued between 12 thousand 500 and 15 billion dollars. Below are the profiles of the Mexican businessmen interested in buying Citibanamex.
Ricardo Salinas Pliego
Just a few hours after the sale was announced, the owner of Salinas Group expressed interest in buy Citibanamex and reported that his team of advisers was already analyzing the viability of the operation. “How much do they want for their changarro?” he asked on Twitter.
Ricardp Salinas is a 66-year-old Mexican businessman, grandson of Benjamin Salinas, who during the 20th century created an emporium for the sale of furniture and electrical appliances. In 1981, he joined Grupo Elektra as manager of Imports and, in 1987, he became the general manager of the chain of stores. Six years later, together with several Mexican investors, he obtains the concession for the creation of the TV Azteca television station.
In 2002, it obtained a banking license to create Banco Azteca, which currently manages the resources of social programs of the 4T. A year later it bought the telephone company Iusacell, which it merged in 2007 with Unefon. He sold it to AT&T in 2014 in a transaction of more than 2,500 million dollars, reports the sputnik agency.
In 2018, after the victory of López Obrador, he joined the Business Advisory Council of the federal government and, two years later, he would debut as an investor and promoter of Bitcoin. It is estimated that his fortune exceeds 11,700 million dollars, according to data from Forbes of 2019.
Jose Javier Garza Calderon
José Javier Garza Calderón is originally from Nuevo León, son of Javier Garza Sepúlveda and grandson of Isaac Garza Sada, José Calderón Muguerza and great-grandson of Isaac Garza Garza, founder of the Cuauhtemoc Brewery.
He is the founder of the Patronato Prosur ABP, a private charity association dedicated to generating rural microentrepreneurs, reported Millennium. After the triumph of Andrés Manuel López Obrador, he created the Entrepreneurs of the Fourth Transformation (E4T) association.
Garza is also the founder of the Grupo Domos company, which acquired Telefónica Cubana in the 1990s and was accused by the United States of allegedly violating commercial laws. This company became ONEO MX, where it offers services in infrastructure, environment, energy, real estate and industrial development, among other items.
Carlos Hank González
Born on September 1, 1971, grandson of Carlos Hank González “The teacher“, one of the most outstanding figures of the PRI in the State of Mexico, began his career in the early 90s at the Mexican Stock Exchange working for Interacciones Casa de Bolsas.
By 1997, he became its CEO; two years later he was appointed general director of Banco Interacciones, and in 2000 he was appointed general director of Financial Group Interactions, a consortium specializing in loans to local governments and infrastructure projects For 2008, Carlos Hank He was appointed CEO of Grupo Industrial Hermes, a conglomerate that combines two construction companies, a highway operator, a boiler manufacturer and a Mercedez Benz distributor.
In 2012 he became vice president of Gruma and two years later he joined the Board of Directors of Grupo Financiero Banorte, a consortium of which he became president in 2015. According to Forbes, the fortune of Carlos Hank, also a member of the Mexican President’s Business Advisory Council, exceeds $2.05 billion.
Carlos Slim Helu
Civil Engineer from the National Autonomous University of Mexico (UNAM), Carlos Slim Helu founded the Grupo Carso conglomerate in 1965. In 1984, Slim Helú obtaineduvo Inbursa Financial Group and a year later it bought the Sanborns restaurant chains.
He also founded the telecommunications company América Móvil. In 1990 he managed to buy the concession of Telephones of Mexico (Telmex). Four years later he inaugurated the Soumaya Museum, in honor of his first wife. It houses one of the most important cultural and artistic collections in Mexico.
In 1997 it acquired the Internet services company Prodigy and achieved an alliance with MSN to create a specialized site. However, it would be in 2004 when he would create a real estate developer and construction company: Carso Infraestructura y Construcción (CICSA). Among other projects, he was in charge of the rehabilitation of the Historic Center of Mexico City during the government of Marcelo Ebrard, the construction of Line 12 of the Mexico City Metro and is involved in the construction of a section of the Mayan Train: .
His fortune amounts to more than $55.93 billion, which makes him one of the wealthiest people on the planet.
Alfonso Jimenez Perez
Alfonso Jimenez Perez, director of the technology development firm Isatek, offered in a statement the amount of 16 billion dollars to buy Citibanamex. would be paid at cryptocurrency “Amero”, “the Mexican cryptocurrency backed by real estate in the amount of 60 billion dollars”.
In accordance with Jimenez Perez your intention with the hypothetical transaction is create the first hybrid banking entity in Mexico. It is worth mentioning that it is not the first time that Isatek has given something to talk about. In January 2020, it offered 138 million dollars to the Mexican government to acquire the presidential plane, reported Forbes.
How much does Banamex cost?
According to an analysis by Bank of America Securities, Citibanamex has a valuation of between 12 thousand 500 and 15 billion dollars, “assuming Banorte’s current valuation multiples and uncontrolled premium.”
“Such a valuation compares with Banorte’s market capitalization of 20 billion dollars and is almost double that of Inbursa and Santander Mexico, of 7.6 and 7.9 billion dollars, respectively,” it indicates.
BBVA calculations point out that the market value of Banamex would be between 194 thousand 87 and 284 thousand 297 million pesos, between 9 thousand 534 and 13 thousand 966 million dollars.
What do they sell from Citibanamex?
The businesses that Citigroup is putting up for sale are the Citibanamex brand, branches and customer accounts, says “Expansion”. Also the cultural heritage, which includes buildings in the Historic Center (such as the Iturbide Palace), the credit business of payroll, cards, mortgages, auto and SMEs.
Likewise, the business of the Afores and insurance. Citibanamex in Mexico explained that the total sale of the assets is being sought and that they do not plan to sell in parts.