Prosus announced plans to buy 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 “terminated” a $4.7 billion deal to buy payments platform BillDesk, it said on Monday, adding that conditions had not been met. Prosus announced plans to buy BillDesk in August 2021, saying it would complement its PayU business and strengthen its presence in India, one of Prosus’s largest markets. In a detailed statement, Prosus mentioned that the transaction deal was subject to the fulfilment of various conditions precedent, which also included approval by the Competition Commission of India (CCI). “However, certain conditions precedent were not fulfilled by the September 30, 2022, long stop date, and the agreement has terminated automatically in accordance with its terms and, accordingly, the proposed transaction will not be implemented.” Affiliate links may be automatically generated – see our ethics statement for details.This is a breaking news story. Details will be added soon. Please refresh the page for latest version. Refresh Follow Gadgets 360 on Twitter for breaking news and more.