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Citigroup Inc – ‘SC 13D’ on 10/8/04 re: Internacional de Ceramica SA de CV

On: Friday, 10/8/04, at 4:17pm ET · Accession #: 1047469-4-30785 · File #: 5-79336

  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

10/08/04  Citigroup Inc                     SC 13D                 4:69K  Internacional de Ceramica SA … CV Merrill Corp/New/FA

General Statement of Beneficial Ownership — Schedule 13D
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13D      General Statement of Beneficial Ownership             16     67K 
 2: EX-99.A     Miscellaneous Exhibit                                  5     28K 
 3: EX-99.B     Miscellaneous Exhibit                                  2±     8K 
 4: EX-99.C     Miscellaneous Exhibit                                 10     31K

SC 13D — General Statement of Beneficial Ownership
Document Table of Contents

Page	(sequential)	\|	(alphabetic)	Top
			Alternative Formats (Word, et al.) Citicorp Contracts, Arrangements, Understandings or Relationships With Respect to the Securities of the Company Identity and Background Interest in Securities of the Company Material to Be Filed as Exhibits Purpose of Transaction Security and Company Source and Amount of Funds or Other Considerations
1	1st Page - Filing Submission
6	Citicorp
9	Item 1. Security and Company
"	Item 2. Identity and Background
10	Item 3. Source and Amount of Funds or Other Considerations
"	Item 4. Purpose of Transaction
11	Item 5. Interest in Securities of the Company
14	Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to the Securities of the Company
15	Item 7. Material to Be Filed as Exhibits

SC 13D 1st Page of 16 TOC ↑Top Previous Next ↓Bottom Just 1st
 
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549  

SCHEDULE 13D  

Under the Securities Exchange Act of 1934     
(AMENDMENT NO.  )*

 Internacional de Ceramica, S.A. de C.V.
--------------------------------------------------------------------------------
 (Name of Company)

Limited Voting Units
--------------------------------------------------------------------------------
  (Title of Class of Securities)

 P2383Z-23-1
--------------------------------------------------------------------------------
(CUSIP Number)

 Serena D. Moe
Citigroup Inc.
 425 Park Avenue
New York, New York 10043
(212) 559-1000
--------------------------------------------------------------------------------
   (Name, Address and Telephone Number of Person Authorized to
 Receive Notices and Communications)

August 6, 2001
--------------------------------------------------------------------------------
 (Date of Event which Requires Filing of this Statement)

  If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is filing 
this schedule because of Rule 13d-1(e), 13(d)-1(f) or 13d-1(g), check the       
following box / /.                                                              

NOTE: Schedules filed in paper format shall include a signed original and five  
copies of the schedule, including all exhibits.                                 

----------                                                                      
   *    The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of       
securities, and for any subsequent amendment containing information which       
would alter disclosures provided in a prior cover page.                         

   The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange   
Act of 1934 or otherwise subject to the liabilities of that section of the Act  
but shall be subject to all other provisions of the Act (however, SEE the       
NOTES).                                                                         

SC 13D 2nd Page of 16 TOC 1st Previous Next ↓Bottom Just 2nd
SCHEDULE 13D

CUSIP No. P2383Z-23-1                                                           
---------------------                                                           

1    NAME OF REPORTING PERSON                                                   
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                     

Impulsora de Fondos, S.A. de C.V.                                     
--------------------------------------------------------------------------------
2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                           
                                                  (a)  / /

                                                  (b)  / /

--------------------------------------------------------------------------------
3    SEC USE ONLY                                                               

--------------------------------------------------------------------------------
4    SOURCE OF FUNDS                                                            

00                                                                    
--------------------------------------------------------------------------------
5    CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 
2(d) or (e)                                                  / /      

--------------------------------------------------------------------------------
6    CITIZENSHIP OR PLACE OF ORGANIZATION                                       

Mexico City, Mexico                                                   
--------------------------------------------------------------------------------
  7    SOLE VOTING POWER
NUMBER OF                                                             
0 SHARES  
      SHARES                  --------------------------------------------------
    8    SHARED VOTING POWER
BENEFICIALLY                                                              
       5,479,328 SHARES*
     OWNED BY                 --------------------------------------------------
       9    SOLE DISPOSITIVE POWER
EACH                                                              
0 SHARES  
    REPORTING                 --------------------------------------------------
         10   SHARED DISPOSITIVE POWER
PERSON WITH                                                               
       5,479,328 SHARES*
                              --------------------------------------------------
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON               

5,479,328 SHARES*                                                     
--------------------------------------------------------------------------------
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES      
                                                               / /

--------------------------------------------------------------------------------
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)                         

16.7%*                                                                
--------------------------------------------------------------------------------
14   TYPE OF REPORTING PERSON                                                   

IV                                                                    
--------------------------------------------------------------------------------

*    EXCLUDES (I) 61,500 LVUS THAT MAY BE DEEMED TO BE BENEFICIALLY OWNED BY    
 ACCIONES Y VALORES DE MEXICO S.A. DE C.V. ("ACCIVAL"), FOR WHICH SHARES
IMPULSORA DE FONDOS, S.A. DE C.V. ("IMPULSORA") DISCLAIMS BENEFICIAL  
OWNERSHIP AND (II) 1,575 LIMITED VOTING UNITS ("LVUS") THAT MAY BE    
DEEMED TO BE BENEFICIALLY OWNED BY CERTAIN OTHER SUBSIDIARIES OF      
CITIGROUP INC., FOR WHICH SHARES IMPULSORA DISCLAIMS BENEFICIAL       
OWNERSHIP.                                                            

SC 13D 3rd Page of 16 TOC 1st Previous Next ↓Bottom Just 3rd
SCHEDULE 13D

CUSIP No. P2383Z-23-1                                                           
---------------------                                                           

1    NAME OF REPORTING PERSON                                                   
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                     

Acciones y Valores de Mexico, S.A. de C.V.                            
--------------------------------------------------------------------------------
2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                           
                                                            (a)  / /

                                                            (b)  / /

--------------------------------------------------------------------------------
3    SEC USE ONLY                                                               

--------------------------------------------------------------------------------
4    SOURCE OF FUNDS                                                            

00                                                                    
--------------------------------------------------------------------------------
5    CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 
2(d) or (e)                                                  / /      

--------------------------------------------------------------------------------
6    CITIZENSHIP OR PLACE OF ORGANIZATION                                       

Mexico City, Mexico                                                   
--------------------------------------------------------------------------------
  7    SOLE VOTING POWER
NUMBER OF                                                             
0 SHARES  
      SHARES                  --------------------------------------------------
    8    SHARED VOTING POWER
BENEFICIALLY                                                              
       5,540,828 SHARES*
     OWNED BY                 --------------------------------------------------
       9    SOLE DISPOSITIVE POWER
EACH                                                              
0 SHARES  
    REPORTING                 --------------------------------------------------
         10   SHARED DISPOSITIVE POWER
PERSON WITH                                                               
       5,540,828 SHARES*
                              --------------------------------------------------
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON               

5,540,828 SHARES*                                                     
--------------------------------------------------------------------------------
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES      
                                                               / /

--------------------------------------------------------------------------------
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)                         

16.9%*                                                                
--------------------------------------------------------------------------------
14   TYPE OF REPORTING PERSON                                                   

BD                                                                    
--------------------------------------------------------------------------------

*    INCLUDES (I) 5,479,328 LVUS BENEFICIALLY OWNED BY IMPULSORA FOR WHICH      
SHARES ACCIVAL DISCLAIMS BENEFICIAL OWNERSHIP AND (II) 61,500 LVUS    
  BENEFICIALLY OWNED BY ACCIVAL. EXCLUDES 1,575 LVUS THAT MAY BE DEEMED TO
BE BENEFICIALLY OWNED BY CERTAIN OTHER SUBSIDIARIES OF CITIGROUP      
INC., FOR WHICH SHARES ACCIVAL DISCLAIMS BENEFICIAL OWNERSHIP.        

SC 13D 4th Page of 16 TOC 1st Previous Next ↓Bottom Just 4th
SCHEDULE 13D

CUSIP No. P2383Z-23-1                                                           
---------------------                                                           

1    NAME OF REPORTING PERSON                                                   
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                     

Grupo Financiero Banamex, S.A. de C.V.                                
--------------------------------------------------------------------------------
2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                           
                                                  (a)  / /

                                                  (b)  / /

--------------------------------------------------------------------------------
3    SEC USE ONLY                                                               

--------------------------------------------------------------------------------
4    SOURCE OF FUNDS                                                            

00                                                                    
--------------------------------------------------------------------------------
5    CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 
2(d) or (e)                                                  / /      

--------------------------------------------------------------------------------
6    CITIZENSHIP OR PLACE OF ORGANIZATION                                       

Mexico City, Mexico                                                   
--------------------------------------------------------------------------------
  7    SOLE VOTING POWER
NUMBER OF                                                             
0 SHARES  
      SHARES                  --------------------------------------------------
    8    SHARED VOTING POWER
BENEFICIALLY                                                              
       5,540,828 SHARES*
     OWNED BY                 --------------------------------------------------
       9    SOLE DISPOSITIVE POWER
EACH                                                              
0 SHARES  
    REPORTING                 --------------------------------------------------
         10   SHARED DISPOSITIVE POWER
PERSON WITH                                                               
       5,540,828 SHARES*
                              --------------------------------------------------
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON               

5,540,828 SHARES*                                                     
--------------------------------------------------------------------------------
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES      
                                                               / /

--------------------------------------------------------------------------------
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)                         

16.9%*                                                                
--------------------------------------------------------------------------------
14   TYPE OF REPORTING PERSON                                                   

HC                                                                    
--------------------------------------------------------------------------------

*    INCLUDES (I) 5,479,328 LVUS BENEFICIALLY OWNED BY IMPULSORA, FOR WHICH     
SHARES GRUPO FINANCIERO BANAMEX, S.A. DE C.V. ("BANAMEX") DISCLAIMS   
BENEFICIAL OWNERSHIP AND (II) 61,500 LVUS BENEFICIALLY OWNED BY       
ACCIVAL. EXCLUDES 1,575 LVUS THAT MAY BE DEEMED TO BE BENEFICIALLY    
OWNED BY CERTAIN OTHER SUBSIDIARIES OF CITIGROUP INC., FOR WHICH      
SHARES BANAMEX DISCLAIMS BENEFICIAL OWNERSHIP.                        

SC 13D 5th Page of 16 TOC 1st Previous Next ↓Bottom Just 5th
SCHEDULE 13D

CUSIP No. P2383Z-23-1                                                           
---------------------                                                           

1    NAME OF REPORTING PERSON                                                   
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                     

Citicorp (Mexico) Holdings LLC                                        
--------------------------------------------------------------------------------
2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                           
                                                  (a)  / /

                                                  (b)  / /

--------------------------------------------------------------------------------
3    SEC USE ONLY                                                               

--------------------------------------------------------------------------------
4    SOURCE OF FUNDS                                                            

00                                                                    
--------------------------------------------------------------------------------
5    CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 
2(d) or (e)                                                  / /      

--------------------------------------------------------------------------------
6    CITIZENSHIP OR PLACE OF ORGANIZATION                                       

Delaware                                                              
--------------------------------------------------------------------------------
  7    SOLE VOTING POWER
NUMBER OF                                                             
0 SHARES  
      SHARES                  --------------------------------------------------
    8    SHARED VOTING POWER
BENEFICIALLY                                                              
       5,540,828 SHARES*
     OWNED BY                 --------------------------------------------------
       9    SOLE DISPOSITIVE POWER
EACH                                                              
0 SHARES  
    REPORTING                 --------------------------------------------------
         10   SHARED DISPOSITIVE POWER
PERSON WITH                                                               
       5,540,828 SHARES*
                              --------------------------------------------------
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON               

5,540,828 SHARES*                                                     
--------------------------------------------------------------------------------
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES      
                                                               / /

--------------------------------------------------------------------------------
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)                         

16.9%*                                                                
--------------------------------------------------------------------------------
14   TYPE OF REPORTING PERSON                                                   

HC                                                                    
--------------------------------------------------------------------------------

*    INCLUDES (I) 5,479,328 BENEFICIALLY OWNED BY IMPULSORA, FOR WHICH SHARES   
 CITICORP (MEXICO) HOLDINGS LLC ("CITICORP MEXICO") DISCLAIMS BENEFICIAL
OWNERSHIP AND (II) 61,500 LVUS BENEFICIALLY OWNED BY ACCIVAL. EXCLUDES
 1,575 LVUS THAT MAY BE DEEMED TO BE BENEFICIALLY OWNED BY CERTAIN OTHER
SUBSIDIARIES OF CITIGROUP INC., FOR WHICH SHARES CITICORP MEXICO      
DISCLAIMS BENEFICIAL OWNERSHIP.                                       

SC 13D 6th Page of 16 TOC 1st Previous Next ↓Bottom Just 6th
SCHEDULE 13D

CUSIP No. P2383Z-23-1                                                           
---------------------                                                           

1    NAME OF REPORTING PERSON                                                   
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                     

CITICORP                                                              
--------------------------------------------------------------------------------
2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                           
                                                  (a)  / /

                                                  (b)  / /

--------------------------------------------------------------------------------
3    SEC USE ONLY                                                               

--------------------------------------------------------------------------------
4    SOURCE OF FUNDS                                                            

00                                                                    
--------------------------------------------------------------------------------
5    CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 
2(d) or (e)                                                  / /      

--------------------------------------------------------------------------------
6    CITIZENSHIP OR PLACE OF ORGANIZATION                                       

DELAWARE                                                              
--------------------------------------------------------------------------------
  7    SOLE VOTING POWER
NUMBER OF                                                             
0 SHARES  
      SHARES                  --------------------------------------------------
    8    SHARED VOTING POWER
BENEFICIALLY                                                              
       5,540,828 SHARES*
     OWNED BY                 --------------------------------------------------
       9    SOLE DISPOSITIVE POWER
EACH                                                              
0 SHARES  
    REPORTING                 --------------------------------------------------
         10   SHARED DISPOSITIVE POWER
PERSON WITH                                                               
       5,540,828 SHARES*
                              --------------------------------------------------
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON               

5,540,828 SHARES*                                                     
--------------------------------------------------------------------------------
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES      
                                                               / /

--------------------------------------------------------------------------------
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)                         

16.9%*                                                                
--------------------------------------------------------------------------------
14   TYPE OF REPORTING PERSON                                                   

HC                                                                    
--------------------------------------------------------------------------------

*    INCLUDES (I) 5,479,328 LVUS BENEFICIALLY OWNED BY IMPULSORA, FOR WHICH     
SHARES CITICORP DISCLAIMS BENEFICIAL OWNERSHIP AND (II) 61,500 LVUS   
BENEFICIALLY OWNED BY ACCIVAL. EXCLUDES 1,575 LVUS THAT MAY BE DEEMED 
TO BE BENEFICIALLY OWNED BY CERTAIN OTHER SUBSIDIARIES OF CITIGROUP   
INC., FOR WHICH SHARES CITICORP DISCLAIMS BENEFICIAL OWNERSHIP.       

SC 13D 7th Page of 16 TOC 1st Previous Next ↓Bottom Just 7th
SCHEDULE 13D

CUSIP No. P2383Z-23-1                                                           
---------------------                                                           

1    NAME OF REPORTING PERSON                                                   
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                     

CITIGROUP HOLDINGS COMPANY                                            
--------------------------------------------------------------------------------
2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                           
                                                  (a)  / /

                                                  (b)  / /

--------------------------------------------------------------------------------
3    SEC USE ONLY                                                               

--------------------------------------------------------------------------------
4    SOURCE OF FUNDS                                                            

00                                                                    
--------------------------------------------------------------------------------
5    CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 
2(d) or (e)                                                  / /      

--------------------------------------------------------------------------------
6    CITIZENSHIP OR PLACE OF ORGANIZATION                                       

DELAWARE                                                              
--------------------------------------------------------------------------------
  7    SOLE VOTING POWER
NUMBER OF                                                             
0 SHARES  
      SHARES                  --------------------------------------------------
    8    SHARED VOTING POWER
BENEFICIALLY                                                              
       5,540,828 SHARES*
     OWNED BY                 --------------------------------------------------
       9    SOLE DISPOSITIVE POWER
EACH                                                              
0 SHARES  
    REPORTING                 --------------------------------------------------
         10   SHARED DISPOSITIVE POWER
PERSON WITH                                                               
       5,540,828 SHARES*
                              --------------------------------------------------
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON               

5,540,828 SHARES*                                                     
--------------------------------------------------------------------------------
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES      
                                                               / /

--------------------------------------------------------------------------------
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)                         

16.9%*                                                                
--------------------------------------------------------------------------------
14   TYPE OF REPORTING PERSON                                                   

HC                                                                    
--------------------------------------------------------------------------------

*    INCLUDES (I) 5,479,328 LVUS BENEFICIALLY OWNED BY IMPULSORA, FOR WHICH     
SHARES CITIGROUP HOLDINGS COMPANY ("CITIGROUP HOLDINGS") DISCLAIMS    
  BENEFICIAL OWNERSHIP AND (II) 61,500 LVUS BENEFICIALLY OWNED BY ACCIVAL.
EXCLUDES 1,575 LVUs THAT MAY BE DEEMED TO BE BENEFICIALLY OWNED BY    
  CERTAIN OTHER SUBSIDIARIES OF CITIGROUP INC., FOR WHICH SHARES CITIGROUP
HOLDINGS DISCLAIMS BENEFICIAL OWNERSHIP.                              

SC 13D 8th Page of 16 TOC 1st Previous Next ↓Bottom Just 8th
SCHEDULE 13D

CUSIP No. P2383Z-23-1                                                           
---------------------                                                           

1    NAME OF REPORTING PERSON                                                   
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                     

CITIGROUP INC.                                                        
--------------------------------------------------------------------------------
2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                           
                                                  (a)  / /

                                                  (b)  / /

--------------------------------------------------------------------------------
3    SEC USE ONLY                                                               

--------------------------------------------------------------------------------
4    SOURCE OF FUNDS                                                            

00                                                                    
--------------------------------------------------------------------------------
5    CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 
2(d) or (e)                                                  / /      

--------------------------------------------------------------------------------
6    CITIZENSHIP OR PLACE OF ORGANIZATION                                       

DELAWARE                                                              
--------------------------------------------------------------------------------
  7    SOLE VOTING POWER
NUMBER OF                                                             
0 SHARES  
      SHARES                  --------------------------------------------------
    8    SHARED VOTING POWER
BENEFICIALLY                                                              
       5,542,403 SHARES*
     OWNED BY                 --------------------------------------------------
       9    SOLE DISPOSITIVE POWER
EACH                                                              
0 SHARES  
    REPORTING                 --------------------------------------------------
         10   SHARED DISPOSITIVE POWER
PERSON WITH                                                               
       5,542,403 SHARES*
                              --------------------------------------------------
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON               

5,542,403 SHARES*                                                     
--------------------------------------------------------------------------------
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES      
                                                               / /

--------------------------------------------------------------------------------
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)                         

16.9%*                                                                
--------------------------------------------------------------------------------
14   TYPE OF REPORTING PERSON                                                   

HC                                                                    
--------------------------------------------------------------------------------

*    INCLUDES (I) 5,479,328 LVUS BENEFICIALLY OWNED BY IMPULSORA FOR WHICH      
SHARES CITIGROUP INC. DISCLAIMS BENEFICIAL OWNERSHIP, (II) 61,500 LVUS
BENEFICIALLY OWNED BY ACCIVAL AND (III) 1,575 LVUS THAT MAY BE DEEMED 
  TO BE BENEFICIALLY OWNED BY CERTAIN OTHER SUBSIDIARIES OF CITIGROUP INC.

SC 13D 9th Page of 16 TOC 1st Previous Next ↓Bottom Just 9th
ITEM 1. SECURITY AND COMPANY.                                                   

This Schedule 13D relates to the Limited Voting Units, each of which consists of
one Series D share and one Series L share (collectively, the "LVUs"), of        
Internacional de Ceramica, S.A. de C.V, a Mexican corporation ("Ceramica" or the
"Company"). The address of the principal executive offices of Ceramica is Ave.  
Carlos Pacheco 7200, Chihuahua, Chih., Mexico.                                  

ITEM 2. IDENTITY AND BACKGROUND.                                                

(a) This Schedule 13D is being filed by (i) Impulsora de Fondos, S.A. de C.V., a
corporation chartered in Mexico City, Mexico ("Impulsora"), by virtue of its    
beneficial ownership of Ceramica's LVUs, (ii) Acciones y Valores de             
Mexico, S.A. de C.V., a corporation chartered in Mexico City, Mexico            
("Accival"), by virtue of its ownership of all of the outstanding common stock  
of Impulsora, (iii) Grupo Financerio Banamex, S.A. de C.V., a corporation       
chartered in Mexico City, Mexico ("Banamex"), by virtue of its ownership of all 
of the outstanding common stock of Accival, (iv) Citicorp (Mexico) Holdings LLC,
a limited liability company chartered in Delaware ("Citicorp Mexico"), by virtue
of its ownership of all of the outstanding common stock of Banamex, (v)         
Citicorp, a corporation chartered in Delaware ("Citicorp"), by virtue of its    
ownership of all of the membership interests of Citicorp Mexico, (vi) Citigroup 
Holdings Company, a corporation charted in Delaware ("Citigroup Holdings"), by  
virtue of its ownership of all of the outstanding common stock of Citicorp, and 
(vii) Citigroup Inc., a corporation chartered in Delaware ("Citigroup"), by     
virtue of its ownership of all of the outstanding common stock of Citigroup     
Holdings (collectively, the "Reporting Persons" and each, a "Reporting Person").

Attached as Exhibit 99.A is information concerning each executive officer and   
director of each of Impulsora and Citigroup. Exhibit 99.A is incorporated       
into and made a part of this Schedule 13D.                                      

(b) The address of the principal office of Impulsora is Isabel la Catolica 165, 
Piso 8, Mexico City, Mexico. The address of the principal office of each of     
Accival and Banamex is Paseo De La Reforma 398, Mexico City, Mexico 6600. The   
address of the principal office of each of Citicorp Mexico, Citicorp and        
Citigroup is 399 Park Avenue, New York, New York 10043. The address of the      
principal office of Citigroup Holdings is One Rodney Square, Wilmington,        
Delaware 19801.                                                                 

(c) Impulsora's principal business is management of investment funds.           
Accival's principal business is acting as broker and investment adviser.        
Banamex is a holding company principally engaged, through its subsidiaries,     
in the general financial services business. Citicorp Mexico is a holding        
company principally engaged, through its subsidiaries, in the general           
financial services business. Citicorp is a bank holding company principally     
engaged, through its subsidiaries, in the general financial services            
business. Citigroup Holdings is a holding company principally engaged,          
through its subsidiaries, in the general financial services business.           
Citigroup is a diversified holding company providing, through its               
subsidiaries, a broad range of financial services to consumer and corporate     
customers worldwide.                                                            

SC 13D 10th Page of 16 TOC 1st Previous Next ↓Bottom Just 10th
(d-e) On April 28, 2003 Salomon Smith Barney, Inc. ("SSB"), now named Citigroup 
Global Markets, Inc., a subsidiary of Citigroup, announced final agreements with
the SEC, the National Association of Securities Dealers, the New York Stock     
Exchange and the New York Attorney General (as lead state among the 50 states,  
the District of Columbia and Puerto Rico) to resolve on a civil basis all their 
outstanding investigations into its research and initial public offering        
allocation and distribution practices.                                          

SSB will pay $300 million for retrospective relief, plus $25 million for        
investor education, and has committed to spend $75 million to provide           
independent third-party research to its clients at no charge. SSB will also     
adopt new policies and procedures to further ensure the independence of its     
research and address other issues identified in the course of the               
investigation. SSB reached these final settlement agreements without            
admitting or denying any wrongdoing or liability. The settlements do not        
establish wrongdoing or liability for purposes of any other proceeding.         

Other than as described above, during the last five years, none of the Reporting
Persons or, to the best of the knowledge of the Reporting Persons, any of the   
persons listed on Schedule A attached hereto, has been convicted in a criminal  
proceeding (excluding traffic violations or similar misdemeanors) or was a party
to a civil proceeding of a judicial or administrative body of competent         
jurisdiction as a result of which such person was or is subject to a judgment,  
decree or final order enjoining future violations of, or prohibiting or         
mandating activities subject to, federal or state securities laws, or finding   
any violation with respect to such laws.                                        

(f) Each of Impulsora, Accival and Banamex is chartered in Mexico City, Mexico. 
Each of Citicorp Mexico, Citicorp, Citigroup Holdings and Citigroup is chartered
in Delaware.                                                                    

ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATIONS.                     

All interests, direct and indirect, in Ceramica's LVUs reported in this         
Schedule 13D are beneficially owned either (i) by Impulsora, on behalf of,      
and using funds contributed by, certain mutual fund clients described in Item   
4 below, or (ii) by certain other subsidiaries of Citigroup using funds         
contributed by certain third party clients or working capital, in each case     
solely for investment purposes in the ordinary course of business.              

ITEM 4. PURPOSE OF TRANSACTION                                                  

On August 6, 2001, Citicorp, an indirect wholly owned subsidiary of             
Citigroup, completed its acquisition of 99.86% of the issued and outstanding    
ordinary shares of Grupo Financiero Banamex Accival, S.A. de C.V. (the          
"Acquisition"). On September 10, 2001, Grupo Financiero Banamex Accival, S.A.   
de C.V. completed the legal process to change its name to Grupo Financiero      
Banamex, S.A. de C.V. ("Banamex"). On September 24, 2001, Citicorp became the   
holder of 100% of the issued and outstanding ordinary shares of Banamex         
following a share redemption by Banamex. Impulsora is a subsidiary of           
Banamex, and, as a result of the Acquisition, Citigroup indirectly assumed      
control of the LVUs beneficially owned by Impulsora.                            

SC 13D 11th Page of 16 TOC 1st Previous Next ↓Bottom Just 11th
The LVUs reported by Impulsora in this Schedule 13D reflect positions that      
Impulsora manages on behalf of certain mutual fund clients, Accivalmex Alta     
Rentabilidad, S.A. de C.V. ("Acciar") and Accivalmex Patrimonial, S.A. de       
C.V. ("Accipat"). Pursuant to the terms of the investment management            
agreement Impulsora has executed with each of these entities, a form of which   
is attached as Exhibit 99.C and is incorporated by reference herein,            
Impulsora has investment and voting authority over the LVUs reported in this    
Schedule 13D on behalf of Acciar and Accipat. Depending on market conditions    
and other factors (including evaluation of Ceramica's businesses and            
prospects, availability of funds, alternative uses of funds and general         
economic conditions), Impulsora may from time to time purchase additional       
securities of Ceramica or dispose of all or a portion of its investment in      
Ceramica on behalf of its mutual fund clients.                                  

Except as described in this Item 4, none of the Reporting Persons nor, to the   
best knowledge of each Reporting Person, any of the persons named in Exhibit    
99.A to this Schedule 13D, has formulated any plans or proposals which relate   
to or would result in: (a) the acquisition by any person of additional          
securities of the Company, or the disposition of securities of the Company;     
(b) an extraordinary corporate transaction, such as a merger, reorganization    
or liquidation, involving the Company or any of its subsidiaries; (c) a sale    
or transfer of a material amount of assets of the Company or any of its         
subsidiaries; (d) any change in the present Board of Directors or management    
of the Company, including any plans or proposals to change the number or term   
of directors or to fill any existing vacancies on the Board; (e) any material   
change in the present capitalization or dividend policy of the Company; (f)     
any other material change in the Company's business or corporate structure      
including but not limited to, if the issuer if a registered closed-end          
investment company, any plans or proposals to make any changes in its           
investment policy for which a vote is required by section 13 of the             
Investment Company Act of 1940; (g) changes in the Company's charter, by-laws   
or instruments corresponding thereto or other actions which may impede the      
acquisition or control of the Company by any person; (h) causing a class of     
securities of the Company to be delisted from a national securities exchange    
or cease to be authorized to be quoted in an inter-dealer quotation system of   
a registered national securities association; (i) causing a class of equity     
securities of the Company to become eligible for termination of registration    
pursuant to Section 12(g)(4) of the Act; or (j) any action similar to those     
enumerated above.                                                               

ITEM 5. INTEREST IN SECURITIES OF THE COMPANY.                                  

(a) Impulsora directly beneficially owns 5,479,328 Limited Voting Units,        
which represent 16.7% of all Limited Voting Units outstanding.                  

Accival owns all of the outstanding common stock of Impulsora, and, as a        
result, indirectly beneficially owns 5,479,328 Limited Voting Units directly    
beneficially owned by Impulsora, which represent 16.7% of all Limited Voting    
Units outstanding. Accival also directly beneficially owns 61,500 Limited       
Voting Units, which represent 0.2% of all Limited Voting Units outstanding.     

Banamex owns all of the outstanding stock of Accival, and, as a result,         
indirectly beneficially owns 5,540,828 Limited Voting Units that are            
beneficially owned by Accival, which represent 16.9% of all Limited Voting      
Units outstanding.                                                              

Citicorp Mexico owns all of the outstanding stock of Banamex, and, as a         
result, indirectly beneficially owns 5,540,828 Limited Voting Units that are    
beneficially owned by Banamex, which represent 16.9% of all Limited Voting      
Units outstanding.                                                              

Citicorp owns all the membership interests of Citicorp Mexico, and, as a        
result, indirectly beneficially owns 5,540,828 Limited Voting Units that are    
beneficially owned by Citicorp Mexico, which represent 16.9% of all Limited     
Voting Units outstanding.                                                       

Citigroup Holdings Company owns all of the outstanding common stock of          
Citicorp, and, as a result, indirectly beneficially owns 5,540,828 Limited      
Voting Units that are beneficially owned by Citicorp, which represent 16.9%     
of all Limited Voting Units outstanding.                                        

Citigroup owns all of the outstanding common stock of Citigroup Holdings        
Company, and, as a result, Citigroup indirectly beneficially owns 5,540,828     
Limited Voting Units that are beneficially owned by Citigroup Holdings          
Company, which represent 16.9% of all Limited Voting Units outstanding.         
Citigroup also indirectly beneficially owns 1,575 Limited Voting Units that     
are beneficially owned by certain other subsidiaries of Citigroup.              

Each of Impulsora, Accival, Banamex, Citicorp Mexico, Citicorp and Citigroup    
Holdings Company disclaims beneficial ownership of the LVUs beneficially owned  
by other Citigroup subsidiaries.                                                

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The table below summarizes the Reporting Persons' current beneficial            
ownership positions and their ownership positions at the time of the            
Acquisition. The heading "Citigroup" refers to LVUs beneficially owned by       
Citigroup Inc.; the heading "Citigroup Subsidiaries" refers to LVUs             
beneficially owned by each of Accival, Banamex, Citicorp Mexico, Citicorp and   
Citigroup Holdings. The heading "Impulsora" refers to LVUs beneficially owned   
by Impulsora.                                                                   

                                                                [Download Table]


DATE                      CITIGROUP     CITIGROUP SUBSIDIARIES      IMPULSORA    
                      LVUs*       %      LVUs*       %            LVUs*       %  
                      -----       -      -----       -            -----       -  
                                                                                 
August 6, 2001      6,220,167   24.8%  6,220,167   24.8%        6,220,167   24.8%
September 21, 2004  5,542,403   16.9%  5,540,828   16.9%        5,479,328   16.7%


* Includes LVUs for which the Reporting Persons disclaim beneficial             
ownership.                                                                      

The ownership calculations in Item 5 are based upon the holdings of the         
Reporting Persons and the number of LVUs outstanding at such time as            
indicated below:                                                                

                                                                [Download Table]


DATE                LVUs OUTSTANDING  SOURCE                                       
                                                                                   
August 6, 2001      25,057,860 LVUs   Form 20-F filed by Ceramica on July 2, 2001  
September 21, 2004  32,878,746 LVUs   Form 6-K filed by Ceramica on August 18, 2004


(b) With respect to the LVUs beneficially owned by the Reporting Persons set    
forth in Item 5(a) above, each Reporting Person has shared power to vote or     
direct the vote, and dispose or direct the disposition of, all of the LVUs it   
beneficially owns.                                                              

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(c) To the best knowledge of the Reporting Persons, the Reporting Persons have  
engaged in the following transactions:                                          

On each of the following dates, Accival purchased LVUs in open market           
transactions in the amount and at the average price described below:            

                                                                [Download Table]

       DATE       LVUs PURCHASED       AVERAGE PRICE*     EXCHANGE RATE*
       ----       --------------       --------------     --------------
                                                                        

  August 18, 2004         3,000            $1.45             11.35      
  August 23, 2004         3,000            $1.45             11.38      
September 2, 2004        15,000            $1.12             11.49      
September 3, 2004        35,000            $1.15             11.52      
September 7, 2004         5,500            $1.25             11.57      


Roberto Hernandez Ramirez, a member of the Board of Directors of Citigroup,     
currently owns 6,121,034 LVUs, or 18.6%, of the Company's outstanding LVUs.     
The 6,121,034 LVUs owned by Mr. Hernandez are not deemed to be beneficially     
owned by Citigroup and are thus not included in this filing.                    

Alfredo Harp Helu was a member of the Board of Directors of Citigroup from      
August 3, 2001 to April 15, 2003. Based on the most recent Schedule 13D filed   
by Mr. Harp on November 13, 2003, Mr. Harp holds 5,202,049 LVUs (or 15.8% of    
the Company's outstanding LVUs as of June 30, 2004). Such shares are not        
deemed to be beneficially owned by Citigroup and are thus not included in       
this filing.                                                                    

Other than the foregoing transactions and as otherwise described in Item 4,     
neither the Reporting Persons nor, to the best knowledge of each Reporting      
Person, any of the persons named in Schedule A, has effected a transaction in   
LVUs during the past 60 days.                                                   

*The Average Price contains conversions of Mexico Peso amounts into U.S.        
Dollars. The exchange rate, which was obtained from the Federal Reserve, is     
based on an average for the day of the transaction listed and may vary          
depending on the source of such exchange rate.                                  

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(d) Not applicable.                                                             

(e) Not applicable.                                                             

ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
THE SECURITIES OF THE COMPANY.                                                  

Attached as Exhibit 99.C is a form of the investment management agreement       
that Impulsora has executed with each of Acciar and Accipat, with respect to    
Impulsora's role as investment manager on behalf of each of Acciar and          
Accipat. Other than this agreement, to the best knowledge of the Reporting      
Persons, no contracts, arrangements, understandings or relationships (legal     
or otherwise) exist among the persons named in Item 2 or between such persons   
and any other person with respect to the securities of the Company, including   
but not limited to transfer or voting of any such securities, finder's fees,    
joint ventures, loan or option arrangements, puts or calls, guarantees or       
profits, divisions of profits or loss, or the giving or withholding of          
proxies.                                                                        

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ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.                                       

                                                                [Download Table]

Exhibit      Description                                                     
-------      -----------                                                     
                                                                             
99.A         Officers and Directors of Impulsora de Fondos, S.A. de C.V. and 
             Citigroup Inc.                                                  

99.B         Joint Filing Agreement among Impulsora de Fondos, S.A. de C.V., 
             Acciones y Valores de Mexico, S.A. de C.V., Grupo Financiero    
             Banamex, S.A. de C.V., Citicorp (Mexico) Holdings LLC, Citicorp,
             Citigroup Holdings Company and Citigroup Inc.                   

99.C         Form of Investment Management Agreement that Impulsora          
             de Fondos, S.A. de C.V. has executed with each of Accivalmex    
             Alta Rentabilidad, S.A. de C.V. and Accivalmex Patrimonial,     
             S.A. de C.V.                                                    


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 SIGNATURE

     After reasonable inquiry and to the best of the knowledge and belief of the
undersigned, the undersigned certifies that the information set forth in this   
statement on Schedule 13D with respect to the undersigned is true, complete and 
correct.                                                                        

Dated: September 29, 2004                                                       

IMPULSORA DE FONDOS, S.A. DE C.V.                           

By: /s/ Alberto Gomez Sandoval                              
--------------------------------------                      
Name: Alberto Gomez Sandoval                                
Title: Finance Director                                     

ACCIONES Y VALORES DE MEXICO, S.A. DE C.V.                  

By: /s/ Alberto Gomez Sandoval                              
--------------------------------------                      
Name: Alberto Gomez Sandoval                                
Title: Finance Director                                     

GRUPO FINANCIERO BANAMEX, S.A. DE C.V.                      

By: /s/ Alberto Gomez Sandoval                              
--------------------------------------                      
Name: Alberto Gomez Sandoval                                
Title: Attorney-In-Fact                                     

CITICORP (MEXICO) HOLDINGS LLC                              

By: /s/ William H. Wolf                                     
--------------------------------------                      
Name: William H. Wolf                                       
Title: President                                            

CITICORP                                                    

By: /s/ Serena D. Moe                                       
--------------------------------------                      
Name: Serena D. Moe                                         
Title: Assistant Secretary                                  

CITIGROUP HOLDINGS COMPANY                                  

By: /s/ Serena D. Moe                                       
--------------------------------------                      
Name: Serena D. Moe                                         
Title: Assistant Secretary                                  

CITIGROUP INC.                                              

By: /s/ Serena D. Moe                                       
--------------------------------------                      
Name: Serena D. Moe                                         
Title: Assistant Secretary

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Dates Referenced Herein and Documents Incorporated by Reference

		Referenced-On Page
This ‘SC 13D’ Filing	Date	First	Last	Other Filings

Filed on:	10/8/04			SC 13G/A
	9/29/04	16
	8/18/04	12		6-K
	6/30/04	13		10-Q, 13F-HR, 20-F, 6-K
	11/13/03	13		4, 8-K, SC 13D
	4/28/03	10		8-K
	4/15/03	13		DEF 14A
	9/24/01	10
	9/10/01	10		424B4, SC 13G/A
	8/6/01	1	10	424B2
	8/3/01	13
	7/2/01	12		S-4/A
				List all Filings

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Filing Submission 0001047469-04-030785 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Citigroup Inc – ‘SC 13D’ on 10/8/04 re: Internacional de Ceramica SA de CV

On: Friday, 10/8/04, at 4:17pm ET · Accession #: 1047469-4-30785 · File #: 5-79336

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General Statement of Beneficial Ownership — Schedule 13DFiling Table of Contents

SC 13D — General Statement of Beneficial OwnershipDocument Table of Contents

Dates Referenced Herein and Documents Incorporated by Reference

General Statement of Beneficial Ownership — Schedule 13D
Filing Table of Contents

SC 13D — General Statement of Beneficial Ownership
Document Table of Contents