DealZone

Deals du Jour

July 23, 2009

Dutch bank ING has hired JPMorgan to advise on the sale of ING’s private banking business in Europe and Asia, which could fetch over $1 billion, sources tell Reuters.

The sale of the units may may take a few months and could draw interest from global and Asian players, one source with knowledge of the deal said.

In other deals reported by Reuters and other media:

Amazon.com will pay about $928 million for booming online shoe retailer Zappos.com, expanding aggressively into the apparel arena with a well-known name after trying unsuccessfully to go it alone.

U.S. drugmaker Bristol-Myers Squibb said it will pay $2.4 billion to acquire Medarex, a biotechnology company that has been helping it develop a promising treatment for melanoma since 2005.

British bus and train operator National Express said it was approached by an unnamed suitor after rival FirstGroup ruled out a formal takeover offer for the company.

French utility group Veolia and state bank Caisse des Depots agreed to start talks about merging their transport businesses to create a new company with 8 billion euros in proforma revenues.

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