02:34 PM EDT, 06/18/2024 (MT Newswires) -- Nuvei ( NVEI ) said Tuesday that its shareholders have approved the plan of arrangement involving the company and Neon Maple Purchaser, a new entity controlled by Advent International.

The payment-technologies company sought shareholder approval after agreeing to be taken private by Advent in April via an all-cash transaction valuing Nuvei ( NVEI ) at about $6.3 billion.

Under the current arrangement, Neon Maple Purchaser will acquire all outstanding subordinate voting shares and multiple voting shares of Nuvei ( NVEI ). Shares not held by Philip Fayer, certain investment funds managed by Novacap Management and Caisse de depot et placement du Quebec, or CDPQ, will be purchased for $34 per share in cash.

Each of the rollover shareholders has agreed to sell their shares to the purchaser. They will receive a combination of cash and shares in the purchaser's or its affiliate's capital. After the arrangement, Philip Fayer, Novacap, and CDPQ are set to collectively hold about 24%, 18%, and 12% of the common equity in the newly formed private company.

The firm plans to obtain court approval for the transaction through a scheduled hearing on June 20, with closing anticipated to occur towards the end of this year or early 2025.

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