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

Paul, Weiss is advising 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 transaction, Fernando Chico Pardo and his family will acquire 25% of Banamex’s outstanding common shares for approximately $2.3 billion. Upon closing, Fernando Chico Pardo will be appointed chair of Grupo Financiero Banamex. The transaction is expected to be completed in the second half of 2026, subject to customary closing conditions.

The Paul, Weiss team is led by corporate partners Laura Turano and Stan Richards, and includes partners Suhan Shim, Anne McGinnis and Timothy Cruickshank, and corporate counsel Nathan Mitchell; intellectual property partner Bonnie Chen; entertainment partner Chuck Googe; and executive compensation partner Christopher Gonnella.