Mizuho Financial Group (TYO:8411) unit Mizuho Securities plans to acquire more than 60% of Avendus Capital Private Limited, to make the Indian investment bank a consolidated subsidiary, according to a Wednesday statement by the company.
The agreement was reached with Avendus' majority shareholder. Avendus operates across investment banking, institutional equities, wealth management and asset management, and is a prominent adviser in India's mergers and acquisitions market.
Mizuho Financial Group has been expanding its global corporate and investment banking business and has pursued growth through acquisitions, including Greenhill in 2023. Bringing Avendus into the group is expected to strengthen Mizuho's presence in India's capital markets and support clients seeking to expand there.
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