Nuvei Stock Price, News & Analysis

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.

Nuvei, a Canadian fintech company, has partnered with Visa to introduce Visa Direct in Colombia. This makes Nuvei the first global payments provider to offer Visa Direct to customers in the country.

Visa Direct utilizes VisaNet to facilitate near real-time fund transfers directly to financial accounts using card credentials. The service can be used for various transactions including person-to-person payments, funds disbursements, bill payments, and cross-border remittances. This service is accessible through Nuvei's modular payments technology platform, allowing merchants to offer instant payouts to their customers.

Nuvei’s CEO, Philip Fayer, highlighted the importance of this service in supporting eCommerce growth in Colombia, one of Latin America's fastest-growing markets. The partnership with Visa extends Nuvei's existing global capabilities, which already include Europe, North America, and parts of APAC.

Nuvei (Nasdaq: NVEI, TSX: NVEI) announced that Institutional Shareholder Services (ISS) recommends shareholders vote in favor of a statutory plan of arrangement. Under this plan, Neon Maple Purchaser, controlled by Advent International, will acquire all outstanding shares for $34.00 per share in cash. The special shareholder meeting to approve the arrangement is scheduled for June 18, 2024. ISS supports the proposal, noting the premium offered and the risks of non-approval. Nuvei's Board and a special committee of independent directors also recommend voting for the arrangement, believing it to be in the best interests of the company and its shareholders.

Nuvei (Nasdaq: NVEI, TSX: NVEI) held its annual meeting of shareholders on May 24, 2024. All proposed items of business were approved by shareholders. The eight director nominees were elected with high approval rates, notably Philip Fayer with 99.90% of votes in favor. PricewaterhouseCoopers LLP was reappointed as auditors with 99.87% of votes in favor. Final voting results are available on SEDAR+ and EDGAR. Nuvei provides fintech solutions for payment acceptance, payout options, and risk management across 200 markets and 150 currencies.