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Nuvei Corp

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business-finance1 year ago•1 min saved

"Advent Nearing Acquisition of Ryan Reynolds-Backed Nuvei"

Advent International has agreed to buy Canadian payments processor Nuvei Corp for $6.3 billion, including debt, in a deal that reflects growing confidence among private equity dealmakers. The buyout firm will pay $34 per share in cash for Nuvei, marking the beginning of a new chapter for the company. Nuvei, backed by actor Ryan Reynolds, provides payment services and partners with brands such as Virgin Atlantic Airways, Shein Group, DraftKings, and BetMGM. The value of private equity buyouts targeting North American companies is up almost 7% this year, reaching about $44 billion.

via Yahoo Finance|

#acquisition #advent-international #business-finance

business1 year ago•1 min saved

Nuvei, Backed by Ryan Reynolds, Nears Buyout Deal with Advent: WSJ

Nuvei Corp, a Canadian payments processor backed by actor Ryan Reynolds, is in advanced talks with private equity firm Advent International for a buyout. The deal, which could be announced soon, may still fall apart. Nuvei, which provides payments services to the sports betting industry, has a market capitalization of C$4.1 billion ($3 billion) and its shares have declined 49% over the past year. After Reynolds invested in Nuvei last April, Spruce Point Capital Management published a critical report on the payments firm, questioning its $1.3 billion acquisition of payments platform Paya Holdings Inc.

via Yahoo Finance|

#advent-international #business #buyout-deal

finance2 years ago•2 min saved

Nuvei's Stock Plummets Amidst Short-Seller Reports and Ties with FTX

Nuvei Corp's shares slipped after short seller Spruce Point Capital Management published a negative report, questioning the Canadian payment firm's financial transparency, links with failed crypto platform FTX, and recent acquisition of Paya Holdings. Spruce Point, which is short the stock, cited the potential for a 35% to 50% drop in value. This comes after Hollywood actor Ryan Reynolds announced he's an investor in Nuvei, but Spruce Point's founder questioned whether any money exchanged hands or if Reynolds was instead given restricted stock in return for his work.

via Yahoo Finance|

#finance #financial-transparency #nuvei-corp