BYJU's pays $234 million to clears Blackstone's dues for Aakash Deal

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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