NUVEI RECEIVES ALL REGULATORY APPROVALS FOR GOING PRIVATE TRANSACTION
Nuvei (Nasdaq: NVEI) has secured all necessary regulatory approvals for its previously announced going-private transaction through a plan of arrangement with Neon Maple Purchaser Inc., an entity formed by Advent International. The arrangement includes participation from Philip Fayer, investment funds managed by Novacap Management Inc., and CDPQ. The transaction, which received shareholder approval on June 18, 2024, and court approval on June 20, 2024, is expected to close around November 15, 2024.
Nuvei (Nasdaq: NVEI) ha ottenuto tutte le approvazioni regolamentari necessarie per la sua transazione di privatizzazione precedentemente annunciata tramite un piano di accordo con Neon Maple Purchaser Inc., un'entità formata da Advent International. L'accordo include la partecipazione di Philip Fayer, fondi di investimento gestiti da Novacap Management Inc., e CDPQ. La transazione, che ha ricevuto l'approvazione degli azionisti il 18 giugno 2024 e l'approvazione del tribunale il 20 giugno 2024, dovrebbe chiudersi intorno al 15 novembre 2024.
Nuvei (Nasdaq: NVEI) ha obtenido todas las aprobaciones regulatorias necesarias para su transacción de privatización previamente anunciada a través de un plan de acuerdo con Neon Maple Purchaser Inc., una entidad formada por Advent International. El acuerdo incluye la participación de Philip Fayer, fondos de inversión gestionados por Novacap Management Inc. y CDPQ. La transacción, que recibió la aprobación de los accionistas el 18 de junio de 2024 y la aprobación del tribunal el 20 de junio de 2024, se espera que se cierre alrededor del 15 de noviembre de 2024.
Nuvei (Nasdaq: NVEI)는 Advent International이 설립한 Neon Maple Purchaser Inc.와의 계획에 따라 이전에 발표한 비상장화 거래에 필요한 모든 규제 승인을 확보했습니다. 이 합의에는 Philip Fayer와 Novacap Management Inc.에서 관리하는 투자 기금, CDPQ의 참여가 포함됩니다. 주주 총회에서 2024년 6월 18일 승인을 받고, 법원에서 2024년 6월 20일 승인을 받은 본 거래는 2024년 11월 15일경에 마감될 것으로 예상됩니다.
Nuvei (Nasdaq: NVEI) a obtenu toutes les approbations réglementaires nécessaires pour sa transaction de privatisation précédemment annoncée par le biais d'un plan d'arrangement avec Neon Maple Purchaser Inc., une entité créée par Advent International. L'arrangement inclut la participation de Philip Fayer, de fonds d'investissement gérés par Novacap Management Inc., et de CDPQ. La transaction, qui a reçu l'approbation des actionnaires le 18 juin 2024 et l'approbation du tribunal le 20 juin 2024, devrait se clôturer vers le 15 novembre 2024.
Nuvei (Nasdaq: NVEI) hat alle erforderlichen regulatorischen Genehmigungen für die zuvor angekündigte Privatisierungsmaßnahme durch einen Plan mit Neon Maple Purchaser Inc., einem von Advent International gegründeten Unternehmen, erhalten. Die Vereinbarung umfasst die Beteiligung von Philip Fayer, von Novacap Management Inc. verwalteten Investmentfonds und CDPQ. Die Transaktion, die am 18. Juni 2024 die Zustimmung der Aktionäre und am 20. Juni 2024 die Genehmigung des Gerichts erhielt, soll voraussichtlich um den 15. November 2024 abgeschlossen werden.
- All regulatory approvals obtained for the going-private transaction
- Shareholder approval secured with successful vote
- Court approval obtained from Superior Court of Québec
- Company will be delisted from public markets, reducing investment accessibility and liquidity for current shareholders
Insights
The regulatory approval marks a significant milestone in Nuvei's
The transaction values Nuvei shares at
The Arrangement was approved by Nuvei shareholders at a special meeting of shareholders held on June 18, 2024, and the Company obtained a final order from the Superior Court of
Further details regarding the Arrangement are provided in the management information circular of the Company dated May 13, 2024, which was mailed to Nuvei shareholders in connection with the Arrangement, a copy of which is available under the Company's profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei's modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 50 markets, 150 currencies and 720 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
Forward-Looking Statements
This press release contains "forward-looking information" and "forward-looking statements" (collectively, "Forward-looking information") within the meaning of applicable securities laws. This Forward-looking information is identified by the use of terms and phrases such as "may", "would", "should", "could", "expect", "intend", "estimate", "anticipate", "plan", "foresee", "believe", or "continue", the negative of these terms and similar terminology, including references to assumptions, although not all Forward-looking information contains these terms and phrases. Particularly, statements regarding the Arrangement, including the proposed timing of completion of the Arrangement, are Forward-looking information.
In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain Forward-looking information. Statements containing Forward‑looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances.
Forward-looking information is based on management's beliefs and assumptions and on information currently available to management, and although the Forward-looking information contained herein is based upon what management believes are reasonable assumptions, readers are cautioned against placing undue reliance on this information since actual results may vary from the Forward-looking information.
Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond the Company's control, that could cause actual results to differ materially from those that are disclosed in or implied by such Forward-looking information. These risks and uncertainties include, but are not limited to, the risk factors described in greater detail under the heading "Risk Factors" in the Company's annual information form filed on March 5, 2024, and under the heading "Risk Factors" in the Company's management's discussion and analysis for the nine months ended September 30, 2024. These risks and uncertainties further include (but are not limited to) as concerns the Arrangement, the failure of the parties to satisfy the remaining conditions to the completion of the Arrangement or satisfy such conditions in a timely manner, significant transaction costs or unknown liabilities, failure to realize the expected benefits of the Arrangement, and general economic conditions. Failure to satisfy the remaining conditions to the completion of the Arrangement may result in the Arrangement not being completed on the proposed terms, or at all. In addition, if the Arrangement is not completed, and the Company continues as a publicly-traded entity, there are risks that the announcement of the Arrangement and the dedication of substantial resources of the Company to the completion of the Arrangement could have an impact on its business and strategic relationships (including with future and prospective employees, customers, suppliers and partners), operating results and activities in general, and could have a material adverse effect on its current and future operations, financial condition and prospects. Furthermore, in certain circumstances, the Company may be required to pay a termination fee to the purchaser pursuant to the terms of the arrangement agreement governing the Arrangement, which could have a material adverse effect on its financial position and results of operations and its ability to fund growth prospects and current operations.
Consequently, all of the Forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that management anticipates will be realized or, even if substantially realized, that they will have the expected consequences or effects on the Company's business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the Forward-looking information contained herein represents the Company's expectations as of the date hereof or as of the date it is otherwise stated to be made, as applicable, and is subject to change after such date. However, the Company disclaims any intention or obligation or undertaking to update or amend such Forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.
For further information please contact:
Investors
Chris Mammone, Head of Investor Relations
IR@nuvei.com
NVEI-IR
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SOURCE Nuvei
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