On 31 August 2021, Naspers announced that an agreement had been reached between PayU Payments, a subsidiary of Prosus, and the shareholders of the Indian digital payments provider BillDesk to acquire BillDesk for $4,7-billion.
Closing of the transaction was subject to the fulfilment of various conditions precedent, including approval by the Competition Commission of India (CCI).
PayU secured CCI approval on 5 September 2022. However, certain conditions precedent were not fulfilled by the 30 September 2022 long stop date, and the agreement has terminated automatically in accordance with its terms and, accordingly, the proposed transaction will not be implemented.