Friday, 24 March, 2023

Byju's Settles $230 M Debt To Blackstone For The Purchase of Aakash

<p>The $230 M payment that was owed to the PE firm Blackstone for acquiring the majority interest in Aakash Educational Services has been made by the edtech company Byju&#39;s. By mutual consent, Blackstone&#39;s payment was postponed. The payment to Blackstone and the failure to close an $800 M funding round because Sumeru Ventures and Oxshott&#39;s agreed investment was not paid in full were the two key issues that sparked concerns about business performance.</p>