Wednesday, August 26
Avendus, an Indian institutional financial services firm, said on Wednesday that Redpoint Investments, an affiliate of KKR, will sell its stake in the company to Mizuho Securities Co. Ltd, a unit of Mizuho Financial Group. Avendus co-founder and executive vice chairman Ranu Vohra will also sell his stake and will remain in his role until the deal is completed, subject to all statutory and regulatory approvals.The Economic Times had reported on December 15 citing unnamed officials that Mizuho Financial Group is finalising terms to acquire KKR-backed Avendus Capital at a Rs 5,900-crore valuation, almost six months after it had first agreed to buy the home-grown investment bank. Reuters reported Japan’s Mizuho Securities will buy a majority stake in the Indian investment bank Avendus from U
