Friday, 29 July 2011

Mergers & Acquisitions - Week Ending 29/07/11

The dispute over US debt reverberated around Wall Street this week; with the fearful atmosphere fostering only two major deals. The first of these came on Monday, when the ING Group sold Insurance Latam, its Latin American unit, to investment firm Grupo de Inversiones Suramericana for $3.9 billion. This sale came as part of the bid by the financial services giant to separate its insurance and banking components; a condition of its bailout from the Dutch government. The seller was down 2%. The following day, New Mountain Financial acquired a controlling stake in SNL Financial for an undisclosed fee. The buyer, a midmarket private equity firm, was down 0.6%.