PayU parent Prosus terminates $4.7Bn Billdesk acquisition deal as pre-conditions remain unmet

PayU’s $4.7Bn acquisition of Indian fintech major Billdesk, among the biggest in…

PayU parent Prosus terminates $4.7Bn Billdesk acquisition deal as pre-conditions remain unmet

PayU’s $4.7Bn acquisition of Indian fintech major Billdesk, among the biggest in Indian financial services space, has been terminated by the former. PayU parent Prosus revealed in a filing, that the deal has been terminated due to certain pre-conditions remaining unmet even till September 30, the long-stop due date for the deal to close.

“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 company didn’t elaborate on the conditions that were not met.

 


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