Nuvei Stock Price, News & Analysis

Nuvei (Nasdaq: NVEI) (TSX: NVEI) has announced a definitive agreement to acquire Pay2All, a licensed Payment Institution in Brazil. This strategic move aims to enhance Nuvei's capabilities in the Brazilian market and strengthen its presence in Latin America. The acquisition will enable Nuvei to offer comprehensive payment services in Brazil, including accepting payments, managing e-wallets, and processing PIX transactions.

The Payment Institution license is important for providing transactional services in Brazil's newly regulated sports betting and online gaming market. With the Brazilian iGaming market projected to reach US$4.03bn by 2029, Nuvei is positioning itself as a leading payment partner for iGaming and eCommerce ecosystems in the country. The transaction is subject to regulatory approvals from the Central Bank of Brazil and local antitrust authorities.

Nuvei (Nasdaq: NVEI) (TSX: NVEI), a Canadian fintech company, has announced it will release its second quarter 2024 financial results after market close on August 6, 2024. This announcement comes in the context of Nuvei's recent agreement to be taken private by Advent International, along with existing Canadian shareholders Philip Fayer, Novacap, and CDPQ. The privatization deal, announced on April 1, 2024, values Nuvei at an enterprise value of approximately US$6.3 billion, with shareholders set to receive US$34.00 per share in an all-cash transaction. Due to this pending transaction, Nuvei will not host a conference call or webcast to discuss the Q2 2024 results.

Nuvei (NASDAQ: NVEI), a Canadian fintech company, has partnered with Mastercard to introduce a new off-ramping solution for consumers in Europe. This innovation allows users to convert digital assets, including cryptocurrencies, into fiat currency via debit, credit, and prepaid cards. The feature is integrated into Nuvei’s modular payment platform, providing a seamless and secure user experience. The funds can be transferred to eligible Mastercard accounts in near real-time, eliminating the need for third-party exchanges. This initiative aims to simplify digital-to-fiat currency conversion and aligns with Nuvei's mission to facilitate frictionless transactions across the digital economy.

Nuvei (Nasdaq: NVEI, TSX: NVEI) announced it has received in-principle approval for a Retail Services Category II License from the Central Bank of the UAE. This license enables Nuvei to expand its operations in the UAE, a key market in the MENA region, by offering direct local acquiring, payment aggregation, and domestic and cross-border fund transfers. The UAE’s eCommerce sector, projected to grow at a 9% CAGR reaching over $10 billion by 2029, presents significant opportunities for Nuvei’s comprehensive payments technology. This expansion complements Nuvei’s strategic goals, following its recent acquisitions of a Major Payment Institution license in Singapore and being the first global payments firm to offer local direct acquiring in Colombia.

Nuvei (Nasdaq: NVEI) has received final court approval from the Superior Court of Québec for its plan of arrangement with Neon Maple Purchaser Inc., controlled by Advent International. This follows shareholder approval obtained on June 18, 2024. The arrangement, which falls under section 192 of the Canada Business Corporations Act, is still subject to various closing conditions and regulatory approvals. If these conditions are met, the transaction is expected to complete between late 2024 and the first quarter of 2025.

Nuvei (NASDAQ: NVEI, TSX: NVEI) announced that its shareholders approved a going-private transaction with Advent International on June 18, 2024. The plan involves a newly-formed entity, Neon Maple Purchaser Inc., acquiring all issued and outstanding shares of Nuvei at $34.00 per share. Major shareholders, including Philip Fayer, Novacap, and CDPQ, will exchange their shares for a mix of cash and shares, retaining substantial equity in the new private company. Approval came through a special meeting where various voting thresholds were met, including a 99.24% approval by combined voting shares and 86.08% by subordinate voting shares. The transaction awaits final court approval and regulatory clearances, expected to close in late 2024 or early 2025.

Nuvei (Nasdaq: NVEI) (TSX: NVEI) announced that proxy advisory firm Glass, Lewis & Co. recommends shareholders vote FOR the previously announced statutory plan of arrangement. This Arrangement involves Neon Maple Purchaser, a new entity controlled by Advent International, acquiring all outstanding shares of Nuvei at $34.00 per share. The special meeting for this vote will be held on June 18, 2024. The Board of Directors and Institutional Shareholder Services also recommend voting FOR the Arrangement. Shareholders are urged to vote by June 14, 2024, if unable to attend virtually. For more details, visit www.NuveiPOA.com.

ViaPlus, a subsidiary of VINCI Highways, has partnered with Nuvei to enhance payment options for mobility services. This collaboration integrates ViaPlus' mobility back office with Nuvei's global acquiring and processing capabilities. Consumers will have access to over 700 new payment types in 150+ currencies, including local options like Brazil's Pix, Peru's Pago Efectivo, and Colombia's Nequi. The partnership aims to increase convenience and flexibility for users and agencies by introducing the ViaPlus Nexus™ digital payment network. This initiative is expected to benefit customers in Brazil, Peru, and Colombia, among other regions.

Nuvei (Nasdaq: NVEI, TSX: NVEI) has announced the filing of a second amendment to its Rule 13e-3 transaction statement on Schedule 13E-3 with the SEC. The original filing was made on May 14, 2024, with the first amendment on June 4, 2024. The amendments are accessible on EDGAR and SEDAR+. There are no changes to the previously announced going private transaction with Advent International or the special shareholders' meeting date set for June 14, 2024. Shareholders are advised to vote in favor of the transaction before the June 14 deadline.

This announcement is informational and not an offer or solicitation to sell Nuvei shares. Detailed transaction info is available on the SEC and Nuvei's investor relations websites, as well as on SEDAR+ for Canadian filings. Shareholders should thoroughly review the Schedule 13E-3 and all related documents.