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Ervin Tu, President and Chief Investment Officer of Prosus, will step down from his role but will continue as an advisor. This change comes as the company, under CEO Fabricio Bloisi, shifts its focus from an investment holding group to an operating technology company centered on lifestyle e-commerce in key markets like Latin America, India, and Europe.
PayU has expanded its board by appointing three new directors: Subhash Mundra, former deputy governor of the Reserve Bank of India, and Manoj Kumar Agarwal, cofounder of security solutions company DevRay, as non-executive independent directors. Ashutosh Sharma, head of investments and M&A for India at Prosus Ventures, joins as a non-executive, non-independent director. This brings the total number of board members to 11.
HSBC has downgraded Deliveroo's stock rating from 'Buy' to 'Hold' amid DoorDash's acquisition offer of 180 pence per share, valuing Deliveroo at approximately GBP 2.9 billion. The offer represents a 44% premium over Deliveroo's recent closing price, and analysts anticipate limited regulatory scrutiny due to the lack of overlapping operations between the two companies. Key shareholders support the acquisition, leading to a consensus that Deliveroo's stock will likely trade near the offer price.
Israeli fintech firm Rapyd has acquired European fintech PayU from Prosus for approximately $610 million, following regulatory approvals from seven authorities. To finance the deal, Rapyd raised $500 million, resulting in a valuation of around $4.5 billion, down from $10 billion in 2021. With this acquisition, Rapyd will operate in over 100 countries, offering more than 1,200 payment methods and holding financial permits in 41 nations.
India's digital economy is growing at twice the rate of its overall economy, according to a recent report by Prosus. This rapid expansion highlights the increasing significance of digital sectors in driving economic growth in the country. The findings underscore the potential for further investment and development in India's tech landscape.
ProSus
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
prosus chief investment officer ervin tu to step down from role
10:08 03.06.2025
PayU expands board with appointments of three new directors
07:28 31.05.2025
hsbc downgrades deliveroo stock amid doordash acquisition proposal
09:33 08.05.2025
Rapyd acquires PayU for 610 million dollars raises 500 million in funding
07:00 14.03.2025
India's digital economy growing at double the pace of overall growth
14:53 28.02.2025
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