Online education provider Byju’s is pushing back payments for an approximately $1-billion acquisition struck last year, according to people familiar with the matter.
Blackstone and other shareholders of Aakash Educational Services were due to be paid partly in cash and partly in Byju’s stock this week, but Byju’s sought a two-month extension, said the people, who asked not to be identified discussing a private matter. Some sellers received partial payment in 2021, the people said.
Blackstone, which owned 38 per cent of Aakash, opted to defer payments due until this year, one of the people said. The acquisition process is “fully on