NEW YORK (Reuters) – Citigroup Inc. said Tuesday it will purchase Deutsche Bank’s Mexican license to continue its institutional operation in the country, following the planned sale of its local retail unit.
“The acquisition of this license, which is subject to the receipt of all regulatory approvals, facilitates the pursuit of our consumer exit and ability to continue our institutional operations in Mexico,” Citi said in a statement to Reuters.
(Reporting by Saeed Azhar in New York; Writing by Kylie Madry in Mexico City, Editing by Isabel Woodford)
