BillDesk’s endless wait for $4.7 billion acquisition by PayU

BillDesk’s endless wait for $4.7 billion acquisition by PayU

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Pratik Bhakta

158 reads
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Pratik Bhakta

158 reads

It’s been almost a year since PayU and BillDesk announced their mega deal. But CCI approval, which was supposed to be a mere formality, has become a major roadblock. Here’s the lowdown on why the deal is stuck

August 08, 2022

11 MINS READ

These days, the first thing BillDesk employees do every morning is open the Competition Commission of India’s website. They have been visiting the antitrust regulator’s site for months to check if their company’s acquisition by PayU has been given the green light.

Their anxiety is understandable given that it will be a year, by the end of this month, since the deal was announced. Back then, it was expected that given the size of the two companies it could take anywhere between nine to 18 months to close the integration.

In September 2021, PayU agreed to buy BillDesk for a staggering $4.7 billion in an all-cash deal, in what would be the largest acquisition in the Indian startup ecosystem after Flipkart was taken over by Walmart.

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