Prosus terminates PayU's $4.7 billion acquisition of BillDesk

BillDesk co- founder Srinivasu MN

Netherlands-headquartered Prosus NV, the parent company of PayU Payments, said on October 3 that it had terminated the deal to acquire Indian payment aggregator BillDesk.

"PayU secured CCI approval on 5 September 2022. However, certain conditions precedent were not fulfilled by the 30 September 2022 long stop date, and the agreement has terminated automatically in accordance with its terms and, accordingly, the proposed transaction will not be implemented," Prosus said in a stock exchange filing.

The deal was announced a year ago by Prosus on August 31, 2021 and had brought the company's total investment in India to $10 billion and was set to be the country's second largest internet deal.

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