CIMB scores surprise win with Australia dairy mandate

[SYDNEY] An advisory role in one of Australia's most contested takeover deals this year has thrown a spotlight on an unexpected debutant in local investment banking circles - Malaysia's CIMB Group Holdings Bhd.

CIMB bankers elbowed their way past familiar names in the clubby world of Australian investment banking when they clinched the sellside mandate to advise Warrnambool Cheese and Butter Factory Co, the target in a three-way global takeover battle.

The deal has put a shine on CIMB's credentials in a country where the bank's investment banking ambitions are just taking shape. Bankers at CIMB only recently celebrated its first anniversary Down Under, with red and white cupcakes - the colours of the bank's corporate logo.