Thursday, August 4, 2011

CIMB Group ventures into Sri Lanka

KUALA LUMPUR: CIMB Group Holdings Bhd's'' CIMB Securities International Pte. Ltd is venturing into Sri Lanka to set up an investment banking advisory joint venture.

It said on Thursday, Aug 4 CIMB Securities International -- its indirect wholly-owned subsidiary ' had entered into a joint venture agreement with its partners Alex Lovell and Reshani Dangalia to establish an investment banking advisory JV.

Under the agreement, the shareholders have committed up to US$2 million for the venture. It will be a subsidiary of CIMB Securities International upon its incorporation.

'The JV company shall provide investment banking services such as corporate, equity and debt capital market and general advisory on mergers and acquisitions, initial public offerings and secondary offerings, primary and dual listings, privatisations, corporate restructuring and capital management, as well as such other related businesses that the Joint Venture company may choose to undertake in the future,' said CIMB.

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