Stumbling Blocks in Mizuho's Acquisition of Avendus

The attempt by Mizuho Financial Group Inc. to obtain a controlling interest in India's Avendus Capital Pvt is facing significant hurdles. The discord arises from differing valuations of the investment bank and the choice of an exit strategy for the firm, which is part of KKR & Co.'s portfolio.

Negotiation Challenges

Sources familiar with the ongoing discussions had indicated that the negotiations were progressing. However, sticking points about the proper valuation and strategic exit path have slowed these talks.

Historical Context

This acquisition was expected to further extend Mizuho's footprint in India, following previous similar ventures by Japanese banks in the region.