Fernando Chico Pardo Acquires Stake in Banamex From Citi in $2.3 Billion Deal

Paul, Weiss advised Mexican businessman Fernando Chico Pardo and his family in their acquisition, via a family-owned company, of an equity stake in Grupo Financiero Banamex, S.A. de C.V., the fourth-largest financial group in Mexico by total assets, from Citi. Under the agreement, Fernando Chico Pardo and his family acquired 25% of Banamex’s outstanding common shares for approximately $2.3 billion.

The Paul, Weiss team was led by corporate partners Laura Turano and Stan Richards, and included partners Suhan Shim, Anne McGinnis and Timothy Cruickshank; tax partner Robert Holo; intellectual property partner Bonnie Chen; entertainment partner Chuck Googe; litigation partners Jaren Janghorbani, John Carlin and Tiana Voegelin and counsel Marques Tracy and Nathan Mitchell; and executive compensation partner Christopher Gonnella.