Avendus Capital ropes in ex-Japanese minister

Bullish about the deal flow between Japan and India, domestic investment bank Avendus Capital has appointed a former Japanese minister on its advisory council. Eisuke Sakakibara, who served as vice-minister of finance and international affairs in the 1990s, was appointed in its advisory council, a company statement said.


Avendus managing director and chief executive Ranu Vohra said there has been a significant rise in Japanese companies investing in the country and domestic firms looking at the Far East for fund raising which prompted Avendus to sign Sakakibara.


"However, unlike the strategy in Europe and North America, which are served through a presence in Britain and the US respectively, Avendus is not opening an office in Japan," Vohra said.


Pointing out to data from Mergermarket, Vohra said 25 merger and acquisition deals with a combined deal size of USD 2.8 billion were closed between Indian and Japanese companies in the last 18 months. "Avendus itself had participated in a deal by advising in the takeover of a domestic agro-chem company by a Japanese firm," he said.


Additionally, Japan has a sizable pool of capital waiting to be tapped by Indian companies, he said.