Santander, Banorte hire advisers for Citibanamex bids

Santander, Banorte hire advisers for Citibanamex bids

M&A Mexico Capital Markets Asset Management Spain United States

Spanish bank Santander and Mexican lender Banorte have hired financial advisers to work on offers to buy Citibanamex from US financial group Citi, according to press reports. Santander has retained Credit Suisse and Goldman Sachs as advisers, Spanish business news service Expansión reported on Tuesday, citing two close sources to the deal. Banorte, meanwhile, is working with Bank of America, Reuters reported. Santander and Banorte have submitted non-binding bids for Citibanamex, and binding offe

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