Prosus, the global investment arm of South African multinational company Nasper, on August 31 last year announced the acquisition of BillDesk.
Prosus, the global investment arm of South African multinational company Nasper, on August 31 last year announced the acquisition of BillDesk.
Prosus NV, which owns PayU, has terminated a USD 4.7 billion deal to acquire Indian payments firm BillDeskHaving said that some conditions precedent was not set.
Prosus, the global investment arm of South African multinational company Nasper, on August 31 last year announced the acquisition of BillDesk under its payment gateway PayU in a cash deal to expand its footprint in India’s fast-growing fintech space.
“The conclusion of the transaction was subject to the fulfillment of various conditions, including the approval of the Competition Commission of India (CCI),” Prosus said in a statement.
While PayU obtained CCI approval on September 5, 2022, “the precedent of certain conditions was not fulfilled by the long stop date of September 30, 2022 and the agreement is automatically terminated in accordance with its terms and accordingly, the proposed transaction shall be terminated.” will not be implemented.” Said it.