MUMBAI:
The financial services arm of the Chennai-based conglomerate has held several rounds of discussions in the last six months ahead of a likely bid, the people cited above said on the condition of anonymity. US private equity firm KKR & Co. has been looking to find a buyer for Avendus Capital for over a year.
TVS Group may acquire Avendus and keep it as a standalone entity within the group, or make an acquisition via TVS Credit, one of the two people cited above said on the condition of anonymity. "The group is well-funded and can pull this off through internal accruals if need be. It does not need to partner with anyone," the person said. If needed, TVS may raise debt at a later stage.
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