ING Barings' chances of shoring up a long-term advisory relationship with Brambles, the support services company, have increased thanks to work on a €363m ($320m) sale of its European rail division.

ING Barings has worked on a number of financing arrangements for Brambles. Advice on the sale of Groupe CAIB, Brambles' rail division, to Preussag of Germany, is ING's first mergers and acquisitions deal for the Anglo-Australian industrial group.