Banamex Sells 20 Per Cent Stake In Aeromexico

Banamex, a Mexican bank, which is part of Citigroup, has sold its 20.19 per cent stake in Aeromexico to a group of Mexican investors and existing Aeromexico shareholders. Eduardo Tricio, president of Mexico’s major milk company, Grupo Lala, led the group of investors. Tricio now holds 20 per cent of the voting stock in the carrier. Banamex will continue to hold a 17.91 per cent stake in the company. Eduardo Tricio will be named chairman of Aeromexico's board of directors, while Valentin Diez-Morodo will be named vice-chairman. Andres Conesa will remain as the company's CEO. The sale price of the shares has not been disclosed.

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