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Bid & Ask: The Deals of the Week


1. Amsterdam-based ING is selling most of its Latin American insurance operations to Grupo de Inversiones Suramericana, parent company of Colombia’s largest bank, for $3.9 billion.

2. Sinohydro Group, China’s biggest dam builder, hopes to raise $2.7 billion in a Shanghai-listed IPO. Regulators will review its application to sell as many as 3.5 billion shares on July 29.

3. To meet conditions for its March bailout, Bank of Ireland (IRE), the country’s top lender, sold $1.7 billion in stock to a group of investors that included U.S. billionaire Wilbur Ross.

4. Carlyle Group is selling about $1 billion of its shares in China Pacific Insurance Group, China’s third-largest insurer.

5. German auto parts and agricultural machinery maker, ZF Friedrichshafen, is paying $724 million for Hansen Transmissions International, a manufacturer of wind turbine gears.

6. Government-backed fund Innovation Network Corp. of Japan will spend $680 million for a 40 percent stake in Landis+Gyr, a Swiss maker of smart meters that allow utilities to check energy use remotely.

7. Murphy Oil (MUR) is selling its Superior (Wis.) refinery to crude oil processor Calumet Specialty Products Partners (CLMT) for about $475 million.

8. Seeking to expand in Bollywood, Walt Disney (DIS) offered $454 million for the 49.5 percent of India’s UTV Software Communications that it doesn’t own.

9. Goldman Sachs (GS) agreed to pay $450 million for 26.5 percent of Aksa Enerji Uretim, Turkey’s largest power producer.

10. A compound of six one-bedroom cottages near Venice Beach, Calif., including one featured in The Big Lebowski as home to The Dude (or El Duderino, if you’re not into the whole brevity thing), is on the market for $2.3 million.

Cwinter
Winter is a reporter for Bloomberg Businessweek in New York.

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