Global payments company Nuvei Corporation plans to privatize its operations in a deal led by private equity investment firm Advent International. The cash transaction is valued at approximately $6.3 billion.
Under the terms of the agreement, Nuvei shareholders will receive $34 per share in cash. With a focus on providing flexible and scalable solutions, Nuvei is present in more than 200 markets worldwide. The company offers more than 680 payment methods.
Philip Fayer, Nuvei’s Chairman and CEO, will continue to lead the company and ensure continuity of strategic direction and operations. According to a press release, Advent aims to support Nuvei’s growth trajectory and capitalize on new opportunities in the following areas: payment
payment
Payment, one of the foundations of modern society’s medium of exchange, refers to the transfer of fiat currency or its equivalent from one party to another in exchange for goods or services. Although the players and means of exchange involved have changed dramatically over time, the payments industry has become a fixture of modern commerce. In particular, the party making the payment is called the payer, and the payee refers to the individual or entity receiving the payment. payment. most common
Payment, one of the foundations of modern society’s medium of exchange, refers to the transfer of fiat currency or its equivalent from one party to another in exchange for goods or services. Although the players and means of exchange involved have changed dramatically over time, the payments industry has become a fixture of modern commerce. In particular, the party making the payment is called the payer, and the payee refers to the individual or entity receiving the payment. payment. most common
Read these terms industry.
Fayer said, “This transaction marks the beginning of an exciting new chapter for Nuvei. We are excited to partner with Advent to continue serving our customers and employees and capitalize on the significant opportunity this investment presents.” He said.
The proposed deal reportedly received strong support from Nuvei’s shareholders, including Fayer, Novacap and CDPQ, which collectively represent a significant portion of the voting rights. The new transaction is subject to shareholder approval and is expected to be completed by the end of 2024 or the first quarter of 2025.
Nuvei has agreed with its existing Canadian shareholders to take Advent International private… https://t.co/eCsjkBxfzu
— Jared Kirui (@JaredLopta79285) April 1, 2024
Shareholder support
Bo Huang, Managing Director of Advent, added: “Our deep expertise and experience in the payments space gives us confidence in the opportunity to support Nuvei as it continues to expand as a global player in this space, based in Canada. We added: “We are working closely with Nuvei to leverage new opportunities to help shape the future of the payments industry.”
Last February, Nuvei introduced direct payments in Colombia. The expansion aims to streamline the process by enabling domestic companies to expand internationally. By offering direct payments, Nuvei allows Colombian businesses to onboard customers without intermediaries.
Additionally, the company’s direct payments access allows businesses to control transactions by directly accepting card payments and managing transaction flows. By bypassing intermediaries, businesses can optimize their payment processes and increase operational efficiency, the company said.
Global payments company Nuvei Corporation plans to privatize its operations in a deal led by private equity investment firm Advent International. The cash transaction is valued at approximately $6.3 billion.
Under the terms of the agreement, Nuvei shareholders will receive $34 per share in cash. With a focus on providing flexible and scalable solutions, Nuvei is present in more than 200 markets worldwide. The company offers more than 680 payment methods.
Philip Fayer, Nuvei’s Chairman and CEO, will continue to lead the company and ensure continuity of strategic direction and operations. According to a press release, Advent aims to support Nuvei’s growth trajectory and capitalize on new opportunities in the following areas: payment
payment
Payment, one of the foundations of modern society’s medium of exchange, refers to the transfer of fiat currency or its equivalent from one party to another in exchange for goods or services. Although the players and means of exchange involved have changed dramatically over time, the payments industry has become a fixture of modern commerce. In particular, the party making the payment is called the payer, and the payee refers to the individual or entity receiving the payment. payment. most common
Payment, one of the foundations of modern society’s medium of exchange, refers to the transfer of fiat currency or its equivalent from one party to another in exchange for goods or services. Although the players and means of exchange involved have changed dramatically over time, the payments industry has become a fixture of modern commerce. In particular, the party making the payment is called the payer, and the payee refers to the individual or entity receiving the payment. payment. most common
Read these terms industry.
Fayer said, “This transaction marks the beginning of an exciting new chapter for Nuvei. We are excited to partner with Advent to continue serving our customers and employees and capitalize on the significant opportunity this investment presents.” He said.
The proposed deal reportedly received strong support from Nuvei’s shareholders, including Fayer, Novacap and CDPQ, who collectively represent a significant portion of the voting rights. The new transaction is subject to shareholder approval and is expected to be completed by the end of 2024 or the first quarter of 2025.
Nuvei has agreed with its existing Canadian shareholders to take Advent International private… https://t.co/eCsjkBxfzu
— Jared Kirui (@JaredLopta79285) April 1, 2024
Shareholder support
Bo Huang, Managing Director of Advent, added: “Our deep expertise and experience in the payments space gives us confidence in the opportunity to support Nuvei as it continues to expand its Canadian roots as a global player in this space. We added: “We are working closely with Nuvei to leverage new opportunities to help shape the future of the payments industry.”
Last February, Nuvei introduced direct payments in Colombia. The expansion aims to streamline the process by enabling domestic companies to expand internationally. By offering direct payments, Nuvei allows Colombian businesses to onboard customers without intermediaries.
Additionally, the company’s direct payments access allows businesses to control transactions by directly accepting card payments and managing transaction flows. By bypassing intermediaries, businesses can optimize their payment processes and increase operational efficiency, the company said.