Prosus NV terminates agreement to acquire Indian payment aggregator BillDesk

Dutch consumer internet conglomerate Prosus NV, which is the parent company of Indian fintech company PayU, Monday said it has terminated its agreement to acquire Indian payment aggregator BillDesk. The $4.7 billion deal that was announced in August last year, would have become the biggest fintech M&A deal in India if it had gone through, and proposed to merge BillDesk with PayU India.

Notably, the companies had received approval from the Competition Commission of India (CCI) only last month.

‘Conditions not fulfilled’

“Closing of the transaction was subject to the fulfilment of various conditions precedent, including approval by the Competition Commission of India (CCI).