Prosus NVwho owns payu, has concluded a USD 4.7 billion (about Rs 38,400 crore) deal to acquire Indian payments firm BillDesk, saying certain conditions were not met. Prosus, the global investment arm of South African multinational Nasper, on August 31 last year announced the acquisition of billdesk In a full-cash deal to expand its footprint in India’s booming fintech sector under the umbrella of its payment gateway PayU.

“The conclusion of the transaction was subject to the fulfillment of various conditions, including the approval of the Competition Commission of India (CCI),” Prosus said in a statement.

While PayU secured CCI approval on September 5, 2022, “the precedent of certain conditions was not fulfilled by the long stop date of September 30, 2022 and the agreement is automatically terminated in accordance with its terms and accordingly, the proposed transaction shall be implemented.” will not be done.” Said it.