Avendus: Mizuho Eyes $800M Stake in Indian Investment Bank
Deal News | Jun 12, 2025 | EIN
Mizuho Financial Group is reportedly close to acquiring a controlling stake in Avendus Capital, a major Indian investment bank. This transaction, valuing Avendus at approximately $800 million including debt, marks a significant move by Mizuho to expand its operations in India's burgeoning financial sector. The deal is expected to see Mizuho purchase KKR & Co.'s 63% stake and additional shares from other minority holders to bolster its ownership to around 70%. This initiative is part of Mizuho's broader strategy to leverage local partnerships, enhancing its investment banking capabilities without engaging in traditional retail banking. Mizuho's acquisition of Avendus follows its previous acquisition of Greenhill & Co to strengthen its M&A advisory services in the Americas. This move is indicative of Japanese banks' continued interest in India's financial markets, as evidenced by Sumitomo Mitsui Financial Group's recent stake acquisition in Yes Bank.
Sectors
- Investment Banking
- Private Equity
- Mergers & Acquisitions
Geography
- India – The target company, Avendus Capital, is based in India, indicating the geographical focus of the acquisition.
- Japan – Mizuho Financial Group, based in Japan, is the acquiring company, highlighting Japanese interest in expanding into Indian markets.
Industry
- Investment Banking – The article focuses on the acquisition of an investment bank, Avendus Capital, by Mizuho, emphasizing the strategic growth in this sector.
- Private Equity – Involvement of KKR & Co., a major player in private equity, selling its stake in Avendus Capital highlights the relevance of the private equity industry.
- Mergers & Acquisitions – The transaction itself is a merger & acquisition activity, with Mizuho seeking to expand its capabilities in this sector through the acquisition of Avendus.
Financials
- US$800 Million – The estimated value of Avendus Capital, including debt, in the acquisition deal with Mizuho.
- 63% – The stake in Avendus Capital that KKR & Co. is selling to Mizuho.
- 70% – The ownership percentage Mizuho aims to achieve in Avendus Capital after the acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Mizuho Financial Group | Bidding Company | Company | A major Japanese financial services company looking to expand its investment banking operations through the acquisition of Avendus Capital. |
| Avendus Capital | Target Company | Company | An Indian investment bank targeted for acquisition by Mizuho Financial Group. |
| KKR & Co. | Selling Company | Company | A global investment firm that currently holds a 63% stake in Avendus Capital, which it plans to sell to Mizuho. |
| Sumitomo Mitsui Financial Group | Other Company | Company | Another Japanese financial group that recently acquired a stake in India's Yes Bank, indicative of a trend. |