‘Aakash deal: Byju’s clears dues to Blackstone’

Edtech major Byju’s has settled $230 million in pending payments to private equity firm Blackstone relating to the acquisition of Aakash Educational Services (AESL), a source aware of the development said.

The final tranche of payment was scheduled to be paid by September 23 as per a mutual arrangement between the two parties, the source added. In April 2021, Byju’s signed a definitive agreement to purchase AESL in a cash-and-stock deal worth Rs 6,821 crore.

At that time, Byju’s mentioned that AESL will continue to function independently, although Aakash founders and Blackstone Group were allocated cash and stock exits.