Pay U calls off $4.7 billion acquisition of major Indian fin tech Bill Desk
Pay U, on Monday, called off the$4.7 billion accession of Indian digital payments provider Bill Desk.
મહત્વપૂર્ણ લિંક
ધોરણ ૩ થી ૫ ની ગુણ સ્લીપ ડાઉનલોડ કરવા માટે અહીં ક્લિક કરો.
મહત્વપૂર્ણ લિંક
ધોરણ ૬ થી ૮ ની ગુણ સ્લીપ ડાઉનલોડ કરવા માટે અહીં ક્લિક કરો.
On Monday, Pay U( possessed by Pros-us) discontinued the$4.7 billion accession of Indian digital payments provider Bill-desk, citing the reasons “ certain conditions precedent weren't fulfilled ” by the deadline.
before, On August 31, global consumer Internet group Pros us declared that an agreement had been inked between Pay U and the shareholders of Bill Desk to acquire the Indian fin tech platform for$4.7 billion. still, this cancellation of the sale was subject to the fulfillment of colorful conditions precedent, including blessing by the Competition Commission of India( CCI).
Statement by Pay U
પ્રથમ સત્રાંત પરીક્ષા મોડેલ પેપર
The company, in an sanctioned statement, stated, “ Pay U secured CCI blessing on 5 September 2022. still, certain conditions precedent weren't fulfilled by the 30 September 2022 long stop date, and the agreement has terminated automatically in agreement with its terms and, consequently, the proposed sale won't be enforced. ”
Statement by Pay U’s parent company Pros us
Bob van Dirk, Group CEO of Pros us, stated “ We've a long and deep relationship with India, having supported and partnered with some of its most dynamic entrepreneurs and new tech businesses since 2005. We've invested near to$ 6 billion in Indian tech to date, and this deal will see that increase to further than$ 10 billion. ”
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Pros us said it “ remains married to the Indian request and growing its being businesses within the region ”. Over the times, Pros us has been an investor and driver in India, investing around$ 6 billion in technology companies in India since 2005.
Pros us operates in over 20 high- growth requests and ultimately came one of the leading online payment providers worldwide by total payment volume( TPV).
Details about Bill Desk
Indian fin tech Bill Desk was established in 2000. It has been a notorious Indian success story and one of the leading payment businesses in the country.
