Mizuho Is Said to Near Deal to Buy KKR-Backed Avendus Capital
- Potential transaction may value Avendus at about $800 million
- Mizuho is seeking to expand in India, tapping into its growth
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Mizuho Financial Group Inc. is nearing a deal to buy a majority stake in Indian investment bank Avendus Capital Pvt, according to people familiar with the matter, as the Japanese lender seeks to expand overseas.
Mizuho has emerged as the likeliest buyer for KKR & Co.’s 63% stake in Avendus, the people said, asking not to be identified because the matter is private. A transaction may value Avendus at about $800 million, the people said.