Canadian payment company Nubay Co., Ltd. The company announced that shareholders have approved a plan to take it private through a transaction with Advent International.
approved PlacementNeon Maple Publishers Ltd, an entity controlled by Advent International, will acquire all of Nuvei’s outstanding shares.
Shareholders unrelated to the major shareholders, including Philip Fayer, Novacap Management Inc. and Caisse de dépôt et placement du Québec (CDPQ), will receive US$34.00 per share in cash.
These major shareholders will instead receive a combination of cash and shares in the acquiring company and are expected to hold a combined 54% stake in the new privately held company.
The transaction, valued at approximately $6.3 billion, awaits final approval from the Quebec Superior Court, with a hearing scheduled for June 20, 2024.
The transaction is expected to close in the second half of 2024 or the first quarter of 2025, pending customary closing conditions and regulatory approvals.
According to previous reports, NuVay Chairman and CEO Philip Feyer Continue to lead the companyalong with his broader leadership team, will continue to have its headquarters in Montreal.
About the Author
More information about the author
