A joke amongst friends is how if CP Group were to ever go under then SCB’s entire equity base would be wiped out. Then again that isn’t likely to happen anytime soon.

Siam Commercial Bank emerged as the top banker to CP Group, controlled by Thai tycoon Dhanin Chearavanont, pocketing $40 million. Dhanin has stepped up its deal-making since 2013 as the tycoon has made a string of overseas acquisitions to diversify away from Thailand. Siam Commercial Bank has lent to the group and successful in parlaying its lending relationship to play a role on the advisory side, having advised CP All on its acquisition of retailer Siam Makro alongside UBS.

Source: FinanceAsia