BharatPe, India’s leading financial services company for merchants, has acquired PAYBACK India from American Express and ICICI Investments Strategic Fund, for an undisclosed amount..The acquisition is in line with BharatPe’s strategy to build a robust and engaged network of over 20 million small merchants by 2023..PAYBACK India was launched in 2010 and has a network of 100+ offline and online partners. It allows its customers to earn and redeem points on every transaction at its partner merchant outlets..As a result of the acquisition, all PAYBACK India employees will become part of the BharatPe group. Group Presidents Suhail Sameer and Gautam Kaushik, along with General Counsel Sumeet Singh have joined the Board of PAYBACK India..BharatPe was advised by its General Counsel Sumeet Singh, assisted by Company Secretary Shubham Arora and Corporate Counsel Rajeev Ranjan..PWC lead the financial diligence and advised BharatPe group on tax issues..Shardul Amarchand Mangaldas acted for American Express group led by Partners Shilpa Mankar and Divi Dutta..The firm's Tax Partners Amit Singhania and Gouri Puri also advised on the transaction.
BharatPe, India’s leading financial services company for merchants, has acquired PAYBACK India from American Express and ICICI Investments Strategic Fund, for an undisclosed amount..The acquisition is in line with BharatPe’s strategy to build a robust and engaged network of over 20 million small merchants by 2023..PAYBACK India was launched in 2010 and has a network of 100+ offline and online partners. It allows its customers to earn and redeem points on every transaction at its partner merchant outlets..As a result of the acquisition, all PAYBACK India employees will become part of the BharatPe group. Group Presidents Suhail Sameer and Gautam Kaushik, along with General Counsel Sumeet Singh have joined the Board of PAYBACK India..BharatPe was advised by its General Counsel Sumeet Singh, assisted by Company Secretary Shubham Arora and Corporate Counsel Rajeev Ranjan..PWC lead the financial diligence and advised BharatPe group on tax issues..Shardul Amarchand Mangaldas acted for American Express group led by Partners Shilpa Mankar and Divi Dutta..The firm's Tax Partners Amit Singhania and Gouri Puri also advised on the transaction.