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KKR considering sale of Avendus Capital

KKR & Co is in an early stage of discussions with potential advisers for a proposed sale of its stake in Avendus Capital Ltd which values the financial services provider at more than $500 million, according to a report by Bloomberg.

The report cites unnamed sources as confirming that the private equity giant is close to appointing two lenders to manage the sales process, with other Avendus investors reportedly considering joining KKR’s proposed deal and taking the stake for the sale to about 80%.

KKR acquired a majority stake in Mumbai-based Avendus, a provider of investment banking, wealth management, alternative asset management services, in 2015, and then reinvested in the business in 2017.

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