Nuvei Enters Into Agreement To Be Taken Private By Advent International, Alongside Existing Canadian Shareholders Philip Fayer, Novacap And CDPQ At A Price Of $34.00 Per Share
Portfolio Pulse from Benzinga Newsdesk
Nuvei Corporation (NASDAQ:NVEI) (TSX:NVEI) is set to go private in an all-cash transaction led by Advent International, with support from shareholders Philip Fayer, Novacap, and CDPQ. The deal values Nuvei at approximately $6.3 billion, offering $34.00 per share, a significant premium over its recent trading prices. The transaction, expected to close by early 2025, will see Nuvei continue operations in Montreal under the leadership of CEO Philip Fayer. This move is anticipated to leverage Advent's resources and expertise in the payments sector, aiming for global expansion and innovation.
April 01, 2024 | 4:32 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Nuvei Corporation is being acquired in an all-cash transaction by Advent International, valuing the company at approximately $6.3 billion. Shareholders are offered $34.00 per share, a premium over recent trading prices. The deal, supported by key shareholders and expected to close by early 2025, will see Nuvei continue its operations in Montreal under current CEO Philip Fayer.
The acquisition of Nuvei by Advent International at a significant premium to its recent trading prices indicates a positive outlook on the company's value and future potential under private ownership. The transaction's support from major shareholders and the continuation of the current leadership team suggest stability and confidence in Nuvei's strategic direction, likely leading to a positive short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100