Bank of Montreal is reportedly leading a group of underwriters launching a $2.55 billion loan to back the previously announced acquisition of Canadian payments processor Nuvei. The loan will have a seven-year term and will help fund the $6.3 billion leveraged buyout led by Advent International, management, Novacap and CDPQ, Bloomberg reported Monday (July 8), citing unnamed sources. The proposed loan would be the biggest such deal since April, when a $2.6 billion loan was sold to fund KKR's purchase of a Br ...

Core Insights - The UAE is a significant market for Nuvei, with its eCommerce sector expected to exceed $10 billion in revenue by 2029, growing at a CAGR of approximately 9% from 2024 to 2029 [1] - Nuvei has secured a Retail Services Category II License from the Central Bank of the UAE, enhancing its local acquiring capabilities and reaffirming its commitment to the MENA region [5][6] - The company aims to connect its customers more deeply through payments, expanding its global licenses to support business growth in the UAE [3][4] Company Expansion - The Retail Services Category II License allows Nuvei to provide a comprehensive suite of payment technologies, including local acquiring, payment aggregation, and fund transfers [2] - Nuvei's expansion includes local acquiring capabilities in over 50 countries, with a focus on enhancing payment acceptance rates and reducing processing costs for customers [2][4] - The company has also recently obtained a Major Payment Institution license in Singapore and is the first global payments company to offer local direct acquiring in Colombia [3] Market Presence - Nuvei operates in more than 200 markets, offering local acquiring in 50 markets, 150 currencies, and 700 alternative payment methods [4] - The company has established a strong commercial presence and high-profile partnerships in the MENA region, supporting local and international customer growth [6] - The CEO expressed gratitude to the Central Bank of the UAE for facilitating the opportunity to launch services in a rapidly growing digital eCommerce market [7]

The Arrangement remains subject to the satisfaction or waiver of certain other closing conditions customary in a transaction of this nature, including the receipt of key regulatory approvals. Assuming that these remaining conditions to closing are satisfied, the Arrangement is expected to be completed in late 2024 or in the first quarter of 2025. About Nuvei Forward-Looking Statements In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events ...

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Shares that are not held by one of three rollover shareholders — Nuvei founder, chair and CEO Philip Fayer, certain investment funds managed by Novacap Management, and Caisse de dépôt et placement du Québec (CDPQ) — will be acquired for $34 in cash per share, according to the release. Fayer said at the time in a press release that the transaction "marks the beginning of an exciting new chapter for Nuvei." Shareholders approved the special resolution at a meeting held Tuesday (June 18), the Canadian FinTech ...

MONTREAL, June 18, 2024 /PRNewswire/ -- Nuvei Corporation ("Nuvei" or the "Company") (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, is pleased to announce that, at the special meeting (the "Meeting") of the Company's shareholders (the "Shareholders") held on June 18, 2024, Shareholders approved the special resolution (the "Arrangement Resolution") approving the previously-announced plan of arrangement under section 192 of the Canada Business Corporations Act (the "Arrangement") involving the Comp ...

CARROLLTON, Texas and MONTREAL, June 11 2024 /PRNewswire/ -- ViaPlus, a subsidiary of VINCI Highways, and Nuvei Corporation ("Nuvei") (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, today announce a partnership to deliver an enhanced payment experience for consumers when purchasing mobility services. Further benefits include broader accessibility for customers who choose to pay cash via Nuvei's retail payment network, and the general convenience of increased paperless payments. About ViaPlus Conta ...

No changes have been made to the terms or conditions of the previously announced going private transaction with Advent International (the "Transaction"), or the date of the special meeting of shareholders of Nuvei called to approve the Transaction. Shareholders are encouraged to vote "FOR" the special resolution approving the Transaction in advance of the June 14, 2024 at 10:00 a.m. (Eastern time) deadline. No Offer of Solicitation About Nuvei This press release contains "forward-looking information" and "f ...

Nuvei is the first global payments provider to offer Visa Direct to its customers in the country. MONTREAL, June 3, 2024 /PRNewswire/ -- Nuvei Corporation ("Nuvei" or the "Company") (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, today announces that it has partnered with Visa, a world leader in digital payments, to offer Visa Direct in Colombia. Nuvei is the first global payments provider to offer Visa Direct to its customers in the country. Visa Direct is a VisaNet processing capability that all ...

MONTREAL, May 29, 2024 /PRNewswire/ -- Nuvei Corporation ("Nuvei" or the "Company") (Nasdaq: NVEI) (TSX: NVEI), today announced that proxy advisory firm Institutional Shareholder Services ("ISS") has recommended that Nuvei shareholders vote FOR the previously announced statutory plan of arrangement (the "Arrangement") involving the Company and Neon Maple Purchaser Inc. (the "Purchaser"), a newly-formed entity controlled by Advent International ("Advent"), pursuant to the provisions of the Canada Business Co ...