02:12 PM EST, 11/15/2024 (MT Newswires) -- Nuvei ( NVEI ) said Friday it completed its plan of arrangement under the Canada Business Corporations Act, through which Neon Maple Purchaser acquired all of Nuvei's ( NVEI ) subordinate voting shares and multiple voting shares for $34 apiece.

Following the deal, Nuvei ( NVEI ) became a wholly-owned subsidiary of Neon Maple Purchaser, with Advent International, Nuvei Cheif Executive Philip Fayer, Novacap Management, and Caisse de depot et placement du Quebec controlling about 46%, 24%, 18%, and 12%, respectively, the company said.

Fayer rolled over about 95% of his shares and will remain one of the largest shareholders. He will continue as chair and chief executive officer, the company added.

As a result of the arrangement, the subordinate voting shares are expected to be de-listed from the Toronto Stock Exchange around Monday, and from Nasdaq around Nov. 25, the company said.

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