ACQUISITION SCRAPPED: Prosus walks away from $4.7bn deal with India’s BillDesk

📆 04-10-22 00:22:00
📰 dailymaverick

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Tech giant had been given the go-ahead by India’s Competition Commission, but ‘various conditions’ had not been fulfilled by the 30 September 2022 long-stop date, so the deal was automatically terminated.

after the Walmart-Flipkart deal in 2018. It reported that the merger would have created a payment gateway giant that would process $147-billion in annualised total payments value — more than twice that of its nearest contender, Razorpay, which processes $80-billion in annual TPV. Prosus has invested about $6-billion in India’s technology startups since 2005, the business daily reported.

BillDesk was founded by three consultants from Arthur Andersen LLP more than two decades ago. The founders stood to collect $500-million each from the deal,

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ACQUISITION SCRAPPED: Prosus walks away from $4.7bn deal with India’s BillDeskTech giant had been given the go-ahead by India’s Competition Commission, but ‘various conditions’ had not been fulfilled by the 30 September 2022 long-stop date, so the deal was automatically terminated.
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