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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Arm shares fall after company gives tepid annual forecast
Singapore stocks open lower on Thursday; STI down 0.3%
ARA H-Trust to sell 2 Hyatt House hotels for US$31 million
Stocks to watch: Frasers Hospitality Trust, AEM, ARA H-Trust, Mermaid Maritime
Frasers Hospitality Trust H1 DPS falls 13.7% to S$0.01091 on higher finance costs
Manulife profit beats on growth in Asia, wealth management