March 17 (Reuters) - Canadian payments technology
company Nuvei ( NVEI ) said on Sunday it was evaluating
proposals that would take the company private, after reports
said that private equity firm Advent International was in
advanced talks to buy the company.
Nuvei ( NVEI ), which has received financial backing from actor Ryan
Reynolds, said its board has formed a special committee to
evaluate "expressions of interest" in the company, including a
going-private deal, and any other strategic alternatives.
The Wall Street Journal first reported about Advent's talks
with Nuvei ( NVEI ) on Saturday. Reuters confirmed the news later, citing
a source familiar with the matter.
Nuvei ( NVEI ) did not give any details about the offers it has
received.
The company said it has engaged in discussions with third
parties for a potential transaction involving continued
significant ownership by certain holders of multiple voting
shares, including founder and CEO Phil Fayer.
Nuvei ( NVEI ) said it has not entered into any agreements or
understandings to effect a privatization deal, and has not
decided at this time whether to pursue one.
Both Toronto- and New York-listed shares of Nuvei ( NVEI ) have
fallen since the company acquired Paya Holdings for $1.3 billion
last year. In April last year, short seller Spruce Point
unveiled a short position in Nuvei ( NVEI ), alleging the acquisition was
dragging its business.
Two months later, Spruce Point said it was no longer holding
a short position after Nuvei's ( NVEI ) stock price had fallen to its
target range.
(Reporting by Akanksha Khushi in Bengaluru; Editing by Dhanya
Ann Thoppil and Mrigank Dhaniwala)