Canadian payments firm Nuvei Corporation announced that it has received all necessary regulatory approvals for its plan to go private.
The move is part of an arrangement with Neon Maple Purchaser Inc., an entity formed by Advent International, in collaboration with Nuvei CEO Philip Fayer, Novacap Management Inc., and CDPQ.
The transaction, valued at approximately US$6.3 billion, is expected to close on or around 15 November 2024, pending the satisfaction of remaining closing conditions.
The buyout was approved by Nuvei shareholders at a meeting held on 18 June 2024, and subsequently received final approval from the Superior Court of Québec following a hearing on 20 June 2024.
According to previous reports, shareholders are set to receive US$34.00 per share under the terms of the deal.
Key stakeholders, including Fayer, Novacap, and CDPQ, will retain significant equity in the privatised company, with Fayer continuing as CEO.
Nuvei provides fintech solutions, including payment processing, fraud management, and banking services, across more than 200 markets globally.
Featured image credit: Edited from Freepik
