BYJU Raveendran offers Aakash stake in $235 million-plus Qatar holding dispute
Business
BYJU Raveendran is trying to settle a more than $235 million dispute with Qatar Holding by offering up his stake in 17.89 million shares of Aakash Educational Services.
These shares were originally bought in 2022 using $150 million financing provided by the Qatar Investment Authority entity.
Qatar Holding set to enforce arbitration
The Aakash shares are a big deal for both sides: Qatar Holding wants them as part of its recovery efforts, but they're also crucial for BYJU'S financial health and the future ownership of Aakash.
Even with Raveendran's offer on the table, Qatar Holding seems set on getting paid back and enforcing its arbitration win, so this saga isn't over yet.