Indian edtech platform BYJU’S reportedly paid $234 million to private equity (PE) firm Blackstone as part of its $950 million acquisition of offline test prep giant Aakash Educational Services Limited (AESL).
The edtech startup stated in its financial performance report for 2020-21 (FY21), released earlier this month, that payments for the Aakash deal would be cleared on September 23. According to Reuters, BYJU’s has cleared all debts owed to Blackstone, giving the private equity firm a $400 million exit from AESL. Blackstone was the largest shareholder in AESL, with a 37.5% stake in the offline test prep company.
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Indian edtech platform BYJU’S reportedly paid $234 million to private equity (PE) firm Blackstone as part of its $950 million acquisition of offline test prep giant Aakash Educational Services Limited (AESL).
The edtech startup stated in its financial performance report for 2020-21 (FY21), released earlier this month, that payments for the Aakash deal would be cleared on September 23. According to Reuters, BYJU’s has cleared all debts owed to Blackstone, giving the private equity firm a $400 million exit from AESL. Blackstone was the largest shareholder in AESL, with a 37.5% stake in the offline test prep company.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
