The Competition Commission of India has approved the $4.7 billion acquisition of digital payments provider BillDesk by the owner of PayU.
The approval comes a year after Dutch venture builder Prosus agreed to buy BillDesk and merge it with payments processing subsidiary PayU.
In April, the CCI asked the parties to submit a new application for the deal, according to local site CapTable.
The transaction builds on previous successful acquisitions by PayU in India, including CitrusPay, Paysense and Wibmo.
PayU India and BillDesk run complementary businesses within India’s digital payment industry. Announcing the deal last year, the two said they expect to create a financial ecosystem handling four billion transactions annually.