01:03 PM EDT, 04/01/2024 (MT Newswires) -- Nuvei ( NVEI ) on Monday said it entered into a definitive arrangement agreement to be taken private by Advent International, with the support of each of the company's holders of multiple voting shares, being Philip Fayer, certain investment funds managed by Novacap Management and Caisse de depot et placement du Quebec, in an all-cash transaction which values the electronic-payments company at about US$6.3 billion.

Advent will acquire all the issued and outstanding subordinate voting shares of Nuvei ( NVEI ) and any multiple voting shares that are not rollover shares. The subordinate voting shares and multiple voting shares will each be acquired for a price of US$34.00 per share. The price is a premium of approximately 56% to the closing price of the subordinate voting shares on the Nasdaq Global Select Market on March 15.

Philip Fayer will remain chair and chief executive of the payments company and will lead the business in all aspects of its operations, as will Nuvei's ( NVEI ) current leadership team, which will also continue following the conclusion of the transaction.

"This transaction marks the beginning of an exciting new chapter for Nuvei ( NVEI ), and we are glad to partner with Advent to continue to deliver for our customers and employees and capitalize on the significant opportunities that this investment provides," said Fayer in a statement.

The company will continue to be based in Montreal..

The company's reach extends to more than 200 markets across the globe, and in its recent 2023 annual financial statements Nuvei ( NVEI ) announced that it had processed more than US$200 billion in total volume, and US$1.2 billion in revenue.

Nuvei ( NVEI ) shares were last seen up C$1.07 to C$43.89 on the Toronto Stock Exchange.

Price: 44.95, Change: +2.13, Percent Change: +4.97