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HomeInternationalCanadian payments company Nuvei to evaluate offers to go private 

Canadian payments company Nuvei to evaluate offers to go private 

Nuvei, a Canadian payments technology company, announced it was considering offers to privatize the company. This decision came after reports suggested that Advent International, a private equity firm, was in advanced negotiations to acquire Nuvei.

Nuvei, backed by actor Ryan Reynolds, stated that its board has established a special committee to assess “expressions of interest” in the company. This includes proposals for going private and other strategic options.

The Wall Street Journal initially reported Advent’s discussions with Nuvei on Saturday. Reuters later confirmed the news, citing a source familiar with the situation.

The company has been in talks with third parties regarding a potential transaction. This could involve maintaining significant ownership by certain holders of multiple voting shares, including founder and CEO Phil Fayer.

Nuvei clarified that no agreements or arrangements for a privatization deal have been finalized. Additionally, the company has yet to determine whether it will pursue such a deal.

Following Nuvei’s acquisition of Paya Holdings for $1.3 billion last year, its Toronto- and New York-listed shares have experienced a decline. In April of the same year, short seller Spruce Point revealed a short position in Nuvei, claiming that the acquisition adversely affected its operations.

Two months later, Spruce Point announced that it had closed its short position after Nuvei’s stock price had reached its target range.

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BRL Editorhttps://businessreviewlive.com
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