canadian payment company Nuvei Co., Ltd. announced that it has received all necessary regulatory approvals for its plan to go private.
The move is part of an arrangement with Neon Maple Purchaser Inc., an entity created by Advent International in collaboration with Nuvei CEO, Philip Fayer, Novacap Management Inc., and CDPQ.
The transaction is valued at approximately US$6.3 billion and is expected to close on or about November 15, 2024, pending the satisfaction of remaining closing conditions.
The acquisition was approved by Nuvei’s shareholders at a general meeting held on June 18, 2024, and received final approval from the Quebec Superior Court following a hearing on June 20, 2024.
According to the previous reportshareholders will receive US$34.00 per share under the terms of the transaction.
Key stakeholders, including Fayer, Novacap and CDPQ, will retain significant stakes in the privatized company, with Fayer continuing to serve as CEO.
Nuvei provides fintech solutions, including payment processing, fraud management, and banking services, to more than 200 markets worldwide.
Featured image credit: Edited from freepic
