Nuvei Completes Going Private Transaction

MT Newswires Live11-16

Nuvei (NVEI) said Friday it completed its plan of arrangement under the Canada Business Corporations Act, through which Neon Maple Purchaser acquired all of Nuvei's subordinate voting shares and multiple voting shares for $34 apiece.

Following the deal, Nuvei became a wholly-owned subsidiary of Neon Maple Purchaser, with Advent International, Nuvei Cheif Executive Philip Fayer, Novacap Management, and Caisse de depot et placement du Quebec controlling about 46%, 24%, 18%, and 12%, respectively, the company said.

Fayer rolled over about 95% of his shares and will remain one of the largest shareholders. He will continue as chair and chief executive officer, the company added.

As a result of the arrangement, the subordinate voting shares are expected to be de-listed from the Toronto Stock Exchange around Monday, and from Nasdaq around Nov. 25, the company said.

Price: 33.99, Change: +0.01, Percent Change: +0.03

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