Nuvei Goes Private in $6.3 Billion Deal with Advent International

by Jared Kirui
  • The privatization deal places the valuation of Nuvei Corporation at approximately US$6.3 billion.
  • Nuvei's shareholders will receive US$34 per share in cash in this agreement.
Nuvei
Nuvei

Nuvei Corporation, a global payment firm, plans to privatize its operations in a deal led by the private equity investment company Advent International. This all-cash transaction is valued at approximately US$6.3 billion.

Under the terms of this agreement, Nuvei's shareholders will receive US$34 per share in cash. With a focus on providing flexible and scalable solutions, Nuvei has a presence in more than 200 markets globally. The company offers over 680 payment methods.

Fayer Remains CEO

Philip Fayer, Nuvei's Chair and Chief Executive Officer, will continue to lead the company, ensuring continuity in its strategic direction and operations. According to the press release, Advent aims to support Nuvei's growth trajectory and capitalize on emerging opportunities in the payment industry.

Fayer mentioned: "This transaction marks the beginning of an exciting new chapter for Nuvei, and we are glad to partner with Advent to continue to deliver for our customers and employees and capitalize on the significant opportunities that this investment provides."

The proposed transaction has reportedly garnered strong support from Nuvei's shareholders, including Fayer, Novacap, and CDPQ who collectively represent a significant portion of the voting power. The new deal is subject to shareholders' approval, with the completion timeline expected towards the end of 2024 or the first quarter of 2025.

Shareholders' Support

Bo Huang, the Managing Director at Advent, added: "Our deep expertise and experience in payments give us conviction in the opportunity to support Nuvei as it continues to scale from its base in Canada as a global player in the space. We look forward to collaborating closely with Nuvei to capitalize on emerging opportunities to help shape the future of the payment industry."

In February, Nuvei introduced direct payment access in Colombia. This expansion aims to streamline processes for local businesses by enabling them to expand internationally. By providing direct payments, Nuvei enables Colombian businesses to onboard customers without intermediaries.

Additionally, the company's direct payment access allows businesses to take control of their transactions by directly accepting card payments and managing the flow of transactions. By bypassing intermediaries, businesses can optimize their payment processes and enhance operational efficiency, the company mentioned.

Nuvei Corporation, a global payment firm, plans to privatize its operations in a deal led by the private equity investment company Advent International. This all-cash transaction is valued at approximately US$6.3 billion.

Under the terms of this agreement, Nuvei's shareholders will receive US$34 per share in cash. With a focus on providing flexible and scalable solutions, Nuvei has a presence in more than 200 markets globally. The company offers over 680 payment methods.

Fayer Remains CEO

Philip Fayer, Nuvei's Chair and Chief Executive Officer, will continue to lead the company, ensuring continuity in its strategic direction and operations. According to the press release, Advent aims to support Nuvei's growth trajectory and capitalize on emerging opportunities in the payment industry.

Fayer mentioned: "This transaction marks the beginning of an exciting new chapter for Nuvei, and we are glad to partner with Advent to continue to deliver for our customers and employees and capitalize on the significant opportunities that this investment provides."

The proposed transaction has reportedly garnered strong support from Nuvei's shareholders, including Fayer, Novacap, and CDPQ who collectively represent a significant portion of the voting power. The new deal is subject to shareholders' approval, with the completion timeline expected towards the end of 2024 or the first quarter of 2025.

Shareholders' Support

Bo Huang, the Managing Director at Advent, added: "Our deep expertise and experience in payments give us conviction in the opportunity to support Nuvei as it continues to scale from its base in Canada as a global player in the space. We look forward to collaborating closely with Nuvei to capitalize on emerging opportunities to help shape the future of the payment industry."

In February, Nuvei introduced direct payment access in Colombia. This expansion aims to streamline processes for local businesses by enabling them to expand internationally. By providing direct payments, Nuvei enables Colombian businesses to onboard customers without intermediaries.

Additionally, the company's direct payment access allows businesses to take control of their transactions by directly accepting card payments and managing the flow of transactions. By bypassing intermediaries, businesses can optimize their payment processes and enhance operational efficiency, the company mentioned.

About the Author: Jared Kirui
Jared Kirui
  • 786 Articles
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About the Author: Jared Kirui
Jared is an experienced financial journalist passionate about all things forex and CFDs.
  • 786 Articles
  • 10 Followers

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