Prosus introduced plans to purchase BillDesk in August 2021, saying it might complement its PayU enterprise 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 (roughly Rs. 34,380 crores) deal to purchase funds platform BillDesk, it stated on Monday, including that situations had not been met.
Prosus introduced plans to purchase BillDesk in August 2021, saying it might complement its PayU enterprise and strengthen its presence in India, one among Prosus’s largest markets.
In an in depth assertion, Prosus talked about that the transaction deal was topic to the fulfilment of assorted situations precedent, which additionally 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.”
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