A near year-long negotiation between Mizuho and investors in Avendus Capital, notably majority shareholder KKR, seems to be headed for closure soon. Highly placed sources aware of the development say the board of Avendus is set to meet next week to consider the offer from the Japanese major to acquire majority control.

Post the board approval, anticipated early next week, a formal deal announcement is expected.

It is gathered that KKR, which holds a little over 60 percent stake, has agreed to make a complete exit from the company at a valuation of Rs 6,000- 6,200 crore. Other institutional investors, including Gaja Capital and Yogesh Mahansaria, founder and CEO of Alliance Tire Group, collectively holding 20 percent stake in the company, are also expected to tender their shares to Mizuho

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