Nuvei Corporation obtains court approval for its $6.3bn arrangement with Advent International
Nuvei Corporation, the Canadian fintech company backed by Ryan Reynolds, has announced that it has obtained a final order from the Superior Court of Québec (Commercial Division) approving its previously announced plan of arrangement.
This arrangement, under section 192 of the Canada Business Corporations Act, involves Nuvei and Neon Maple Purchaser Inc., a newly formed entity controlled by Advent International, L.P.
This court approval follows the shareholder approval obtained at the special meeting of Nuvei's shareholders on Tuesday, June 18.
The arrangement remains subject to the satisfaction or waiver of certain other closing conditions customary in a transaction of this nature, including key regulatory approvals. If these remaining conditions are met, the arrangement is expected to be completed in late 2024 or in the first quarter of 2025.
Reynolds, known for his high-profile investments, has been a significant investor in Nuvei. The approval of this $6.3bn arrangement with Advent International marks a major milestone for Nuvei as it transitions into private equity.
This move aims to leverage Advent's expertise to enhance Nuvei's market position and growth prospects in the fintech sector. The collaboration is expected to support Nuvei's innovative approach, positioning the company for sustained success.
