2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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PayU
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Razorpay
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Paytm
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CCAvenue
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Detailed explanation-1: -PayU terminates $4.7 billion acquisition of BillDesk.
Detailed explanation-2: -Prosus said it “remains committed to the Indian market and growing its existing business within the region.” Founded by three consultants, BillDesk founders stood to make $500 million each from the acquisition deal.
Detailed explanation-3: -General Atlantic remains the largest shareholder in the company with 35% ownership in the company. In August 2021, PayU announced that it would acquire BillDesk for $4.7 billion in an all-cash deal, which would make it the largest fintech acquisition in India. However, the deal was terminated in October 2022.
Detailed explanation-4: -As per a statement issued by Prosus NV (the owner of PayU), they had terminated the $4.7-billion deal to acquire Indian payments firm BillDesk.
Detailed explanation-5: -So when global payments company PayU, owned by tech investment major Prosus, decided to acquire 20-year-old BillDesk in a $4.7 Bn deal in August 2021, not many questioned the reasoning.