Bid & Ask: The Deals of the Week
1. As Europe’s debt crisis deepens, Belgium is paying $5.4 billion for Dexia’s national retail unit, ending a 15-year cross-border experiment with France.
2. U.S. oilfield-services provider Superior Energy Services will buy competitor Complete Production Services for about $2.6 billion.
3. Chinese state-owned refiner Sinopec agreed to buy Canada’s Daylight Energy for $2.1 billion, gaining more than 300,000 acres in areas rich with oil and natural gas. Chinese companies have bought almost $30 billion of Canadian assets in the past five years.
4. Discount retailer 99¢ Only Stores is selling itself to private equity firm Ares Management and the Canada Pension Plan Investment Board for about $1.6 billion in cash.
5. Shipper A.P. Møller-Mærsk agreed to sell its liquefied natural gas tanker unit to Teekay LNG Partners and Marubeni for $1.4 billion in cash.
6. Summit Midstream agreed to pay Encana $590 million for natural gas assets, including pipelines and compression facilities, in the Colorado Rockies.
7. Spanish builder Ferrovial plans to sell a stake in London Heathrow airport-owner BAA to private equity firm Alinda Capital Partners for $437 million.
8. Liz Claiborne is selling its namesake and Monet brands to J.C. Penney for $268 million. The company will focus on its Juicy Couture, Lucky Brand, and Kate Spade labels and plans to rename itself within a year.
9. Grupo Bimbo, the world’s largest breadmaker, agreed to buy Sara Lee’s bakery business in Spain and Portugal for $157 million.
10. A 1949 Triumph Trophy TR5 Scrambler Custom motorcycle ridden by Arthur “The Fonz” Fonzarelli on the TV show Happy Days will be auctioned on Nov. 12 by Bonhams, which estimates the bike will fetch at least $60,000.