Canadian fintech Nuvei, which is listed on the Nasdaq, has acknowledged that it is in discussions about possibly going private.
Canadian fintech Nuvei, which is listed on the Nasdaq, has acknowledged that it is in discussions about possibly going private.
In response to rumors in the media regarding a potential merger with Advent, Nuvei says it has established a special committee comprising legal and financial advisors to assess expressions of interest and potential strategic alternatives.
Continuing, the statement confirms that the Company is in discussions with specific third parties regarding a potential transaction. This transaction involves maintaining substantial ownership by certain holders of multiple voting shares, including Phil Fayer, Nuvei's founder, chair, and chief executive officer.
Advent's $3 billion market capitalization offer for Nuvei would make it one of the biggest equity buyouts in recent memory.
In addition to providing card acquiring services in over 200 markets, Neuvi also provides access to over 600 different payment options and direct local acquiring in over 47 countries.
The US company Paya was acquired by it in January of last year for a total cash price of US$1.3 billion.
More recently, it paid a pitiful $50 million for the Australian fintech darling Till Payments, which was much less than its $500 million initial estimate.
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