Fintech firm Nuvei completes plan to go private

MONTREAL — Fintech company Nuvei Corp. says it has completed its previously announced plan to go private.

Shareholders of Montreal-based Nuvei voted in June in favour of a plan to have the company bought by an American private equity firm and taken private.

The deal was valued at US$6.3-billion.

As a result of the completion of the transaction, Nuvei said it expects its shares to be de-listed from the Toronto Stock Exchange on or about Nov. 18 and from the Nasdaq Global Select Market on or about Nov. 25.

The company has applied to cease to be a reporting issuer under Canadian securities laws in all Canadian jurisdictions.

Nuvei founder and CEO Philip Fayer will continue to be one of the largest shareholders in the company and will continue to serve as Nuvei’s board chair and CEO.

This report by The Canadian Press was first published Nov. 15, 2024.

Companies in this story: (TSX:NVEI)

The Canadian Press