By Kylie Madry MEXICO CITY (Reuters) -Mexican mining and transportation giant Grupo Mexico on Friday submitted an offer to purchase Citi's retail unit in the country, known as Banamex, more than two years after it had scrapped previous plans to do so. Grupo Mexico said in its filing on Friday that the bid showed its "unwavering confidence" in the country and that such a purchase would once again make Banamex competitive among its peers. Banamex did not immediately respond to a request for comment. Grupo Mexico, controlled by Mexican billionaire German Larrea, would purchase 25% of Banamex at 0.85x book value, and the remaining 75% at 0.80x book value, it said. Citi paid $12.5 billion for Banamex in 2001. The offer comes a week after local billionaire Fernando Chico Pardo, who chairs airpor

See Full Page