Nuvei Corporation, a global payment firm, plans to
privatize its operations in a deal led by Advent International, a private
equity investment firm. This all-cash transaction is valued at approximately
US$6.3 billion.
Under the terms of the agreement, Nuvei’s shareholders
will receive US$34 per share in cash. With a focus on providing modular,
flexible, and scalable solutions, Nuvei’s global footprint spans over 200
markets. The company offers more than 680 payment methods.
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 payments 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 transaction is subject to shareholder approval,
with an expected completion timeline towards the end of 2024 or the first
quarter of 2025.
Nuvei enters into agreement to be taken private by Advent International, alongside existing Canadian shareholders … https://t.co/eCsjkBxfzu
— Jared Kirui (@JaredLopta79285) April 1, 2024
Shareholders’ Support and Transaction
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 to the
Colombian market. This expansion plan aims to streamline processes for local
businesses by enabling them to expand internationally. By providing direct
payment access, Nuvei enables Colombian businesses to onboard customers without
intermediaries.
Nuvei’s direct payment access platform allows businesses to
take control of their transactions by accepting card payments directly and to
autonomously manage 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 Advent International, a private
equity investment firm. This all-cash transaction is valued at approximately
US$6.3 billion.
Under the terms of the agreement, Nuvei’s shareholders
will receive US$34 per share in cash. With a focus on providing modular,
flexible, and scalable solutions, Nuvei’s global footprint spans over 200
markets. The company offers more than 680 payment methods.
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 payments 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 transaction is subject to shareholder approval,
with an expected completion timeline towards the end of 2024 or the first
quarter of 2025.
Nuvei enters into agreement to be taken private by Advent International, alongside existing Canadian shareholders … https://t.co/eCsjkBxfzu
— Jared Kirui (@JaredLopta79285) April 1, 2024
Shareholders’ Support and Transaction
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 to the
Colombian market. This expansion plan aims to streamline processes for local
businesses by enabling them to expand internationally. By providing direct
payment access, Nuvei enables Colombian businesses to onboard customers without
intermediaries.
Nuvei’s direct payment access platform allows businesses to
take control of their transactions by accepting card payments directly and to
autonomously manage the flow of transactions. By bypassing intermediaries,
businesses can optimize their payment processes and enhance operational
efficiency, the company mentioned.
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- Source: https://www.financemagnates.com//fintech/nuvei-goes-private-in-63-billion-deal-with-advent-international/
