Naspers Announces The Termination Of Agreement To Acquire BillDesk
Naspers Announces The Termination Of Agreement To Acquire BillDesk. On 31 August 2021, Naspers announced that an agreement had been reached between PayU Payments Private Limited (PayU), a subsidiary of Prosus N.V. (Prosus), and the shareholders of the Indian digital payments provider BillDesk to acquire BillDesk for US$4.7 billion.
Closing of the transaction was subject to the fulfilment of various conditions precedent, including approval by the Competition Commission of India (CCI). 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.
Naspers, through its subsidiary prosus, has been a long-term investor and operator in india – investing close to us$6 billion in indian technology companies since 2005. Naspers remains committed to the indian market and growing its existing businesses within the region. Established in 1915, Naspers has transformed itself to become a global consumer internet company and one of the largest technology investors in the world.
Through Prosus, the group operates and invests globally in markets with long-term growth potential, building leading consumer internet companies that empower people and enrich communities. Prosus has its primary listing on Euronext Amsterdam, and a secondary listing on the Johannesburg Stock Exchange and Naspers is the majority owner of Prosus.
