Grupo Mexico Enlists Simpson Thacher in Citi Banamex Bid (1)

Grupo Mexico SAB hired top New York law firm Simpson Thacher & Bartlett to negotiate its bid for Citigroup Inc.’s Mexican retail bank Banamex, according to people familiar with the matter.

Lawyers from the firm were in Mexico City last week to work on the deal, the people said, requesting anonymity because the talks are private. Talks could still fall apart, they said.

Grupo Mexico, controlled by mining tycoon German Larrea, has been in advanced talks to acquire Banamex. Simpson Thacher was the top mergers and acquisition adviser in a Bloomberg ranking last year, advising on 196 ...