Nuvei shareholders approve $6.3-billion non-public fairness buyout

Article content material

MONTREAL — Nuvei Corp. shareholders have voted in favour of a plan that may see the corporate purchased by an American non-public fairness agency and brought non-public.

The proposal for the Montreal-based fee know-how agency was put ahead by Advent International, alongside current shareholders Novacap, CDPQ and Nuvei chair and chief government Philip Fayer in April.

The settlement values Nuvei at US$6.3 billion and can hand shareholders US$34 per share in money. Under the deal, Fayer will stay CEO and chair and Nuvei will proceed to be primarily based in Montreal.

Leading impartial proxy advisory corporations Glass Lewis and Institutional Shareholder Services beforehand really helpful shareholders vote in favour of the supply.

Nuvei nonetheless must get hold of a court docket order for the transaction to maneuver ahead however expects the deal to shut later this 12 months or in the course of the first quarter of 2025.

When Nuvei went public in 2020, it raised US$833 million, shattering the Toronto Stock Exchange’s report for a tech IPO. It later caught the eye of Canadian actor Ryan Reynolds, who took a stake within the enterprise in 2023.

Share this text in your social community