PayU calls off $4.7 bn acquisition of BillDesk; Prosus terminates deal after 13 months

Prosus NV, which owns PayU, has terminated a USD 4.7 billion (about Rs 38,400 crore) deal to acquire Indian payments firm BillDesk, saying certain conditions precedent were not met. Prosus, the global investment arm of South African multinational Nasper, on August 31 last year announced the acquisition of BillDesk in an all-cash deal to expand its footprint in India's booming fintech sector under the umbrella of its payment gateway PayU.

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