Prosus announced plans to acquire BillDesk in August 2021, saying it would complement its PayU business and strengthen its presence in India.
By Reuters | Updated: 3 October 2022 12:47 IST
Technology investor Prosus NV has “finalized” a $4.7 billion deal to buy payments platform BillDesk, it said Monday, adding that terms were not met.
Prosus announced plans to acquire BillDesk in August 2021, saying it would complement its PayU business and strengthen its presence in India, one of Prosus’ largest markets.
in detail statement, Prosus noted that the transaction agreement was subject to the fulfillment of various conditions, including the approval of the Competition Commission of India (CCI). “However, certain conditions have not been satisfied by the September 30, 2022 long stop date and the agreement has automatically terminated in accordance with its terms and, accordingly, the proposed transaction will not be consummated.”
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