Nuvei Corporation, a global payment firm, plans to
privatize its operations in a deal led by the private equity investment company Advent International. This all-cash transaction is valued at approximately
US$6.3 billion.
Under the terms of this agreement, Nuvei’s shareholders
will receive US$34 per share in cash. With a focus on providing flexible and scalable solutions, Nuvei has a presence in more than 200 markets globally. 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
Payments
One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl
One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl
Read this Term 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 deal is subject to shareholders’ approval,
with the completion timeline expected 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
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 in Colombia. This expansion aims to streamline processes for local
businesses by enabling them to expand internationally. By providing direct
payments, Nuvei enables Colombian businesses to onboard customers without
intermediaries.
Additionally, the company’s direct payment access allows businesses to
take control of their transactions by directly accepting card payments and managing the flow of their 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 the private equity investment company Advent International. This all-cash transaction is valued at approximately
US$6.3 billion.
Under the terms of this agreement, Nuvei’s shareholders
will receive US$34 per share in cash. With a focus on providing flexible and scalable solutions, Nuvei has a presence in more than 200 markets globally. 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
Payments
One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl
One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl
Read this Term 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 deal is subject to shareholders’ approval,
with the completion timeline expected 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
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 in Colombia. This expansion aims to streamline processes for local
businesses by enabling them to expand internationally. By providing direct
payments, Nuvei enables Colombian businesses to onboard customers without
intermediaries.
Additionally, the company’s direct payment access allows businesses to
take control of their transactions by directly accepting card payments and managing the flow of their transactions. By bypassing intermediaries,
businesses can optimize their payment processes and enhance operational
efficiency, the company mentioned.