Naspers-owned Prosus terminates $4.7 billion deal to acquire BillDesk

Prosus has been a long-term investor and operator in India, putting in close to $6 billion in Indian technology companies since 2005

The biggest M&A (merger & acquisition) deal in the Indian fintech space has been called off. Naspers-owned Prosus has terminated the $4.7-billion deal to acquire India’s leading payments aggregator BillDesk.

The deal between PayU, the India business of Prosus, and BillDesk was announced on August 31, 2021, and got approval from the Competition Commission of India (CCI) on September 5, 2022.

However, approval from the Reserve Bank of India was awaited. The process was to take at least 45 days.

On the termination of the agreement, Prosus in a statement said: “Certain conditions were not fulfilled by September 30, 2022,