April 15th, 2024

Payment technology company Nuvei Corp. signs deal to be taken private

By The Canadian Press on April 1, 2024.

Nuvei Corp. says it has signed a deal to be taken private by Advent International, alongside existing Canadian shareholders Philip Fayer, Novacap and CDPQ. The Nuvei logo is shown in this undated handout photo. THE CANADIAN PRESS/HO-Nuvei

MONTREAL – Payment technology firm Nuvei Corp. says it has signed a deal to be taken private by Advent International, alongside existing Canadian shareholders Philip Fayer, Novacap and CDPQ.

Under the agreement, shareholders will receive US$34 per share in cash in a deal that puts an enterprise value of US$6.3 billion on the company.

Nuvei says Advent is a long-standing investor in the payments technology sector and the company stands to benefit from its expertise.

Fayer will remain as the company’s chair and chief executive, while the company’s current leadership team will also continue.

He says the deal marks the beginning of an exciting new chapter for the company.

Fayer will indirectly own or control about 24 per cent of the resulting private company, while Novacap will hold 18 per cent and CDPQ will own 12 per cent.

Companies in this story: (TSX:NVEI)

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