Nuvei rises on $6.3 bln go-private deal with Advent

Nuvei

01/04/2024 18:40

** Shares of Canadian payment processor Nuvei  NVEI.TO  rise
2.3% to C$43.8
    ** U.S-listed shares of NVEI rise 2.1% to $32.28
    ** Private equity firm Advent International agrees to take
Nuvei private in a $6.3 bln deal, including debt
    ** NVEI shareholders will receive $34/shr, a 56% premium to
co's March 15 closing price on Nasdaq, a day before the
potential deal was reported in the media 
    ** Current CEO Philip Fayer will continue to lead NVEI,
which will remain headquartered in Montreal
    ** Existing shareholders - Fayer, private equity firm
Novacap and Canadian pension fund CDPQ - will indirectly own or
control equity in the resulting private co of about 24%, 18% and
12%, respectively
    ** Deal expected to close in late 2024 or Q1 2025

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))