Payment technology company Nuvei Corp. has announced that it has agreed to be taken private by Advent International, along with its existing Canadian shareholders Philip Fayer, Novacap, and CDPQ.
As per the deal, shareholders will receive US$34 per share in cash, resulting in an enterprise value of US$6.3 billion for the company.
Nuvei stated that Advent, a well-established investor in the payments technology sector, will bring its expertise, benefiting the company.
Fayer will continue to serve as the company’s chair and chief executive, and the current leadership team will also remain in place.
According to Fayer, the deal signifies the start of an exciting new chapter for the company.
Fayer will indirectly possess or control around 24 percent of the resulting private company, while Novacap will hold 18 percent and CDPQ will retain 12 percent.
