Ryan Reynolds-Backed Nuvei, Advent Near Buyout Deal: WSJ
The company, which provides payments services to the sports betting industry, has a market capitalization of C$4.1 billion ($3 billion).
(Bloomberg) -- Nuvei Corp., the Canadian payments processor backed by actor Ryan Reynolds, is in advanced talks with private equity firm Advent International for a buyout, the Wall Street Journal reported, citing people familiar with the matter.
A deal could be announced soon, though talks could still fall apart, the newspaper said. Montreal-based Nuvei didn’t immediately reply to a request for comment.
The company, which provides payments services to the sports betting industry, has a market capitalization of C$4.1 billion ($3 billion). Its shares have declined 49% over the past year.
After Reynolds invested in Nuvei last April in a deal that didn’t disclose financial terms, Spruce Point Capital Management published a critical report on the payments firm — the second time the short seller has gone after the company.
In part, the report questioned Nuvei’s $1.3 billion acquisition of payments platform Paya Holdings Inc. last year.
Read more: Nuvei Faces Short-Seller Report After Ryan Reynolds Stake
--With assistance from Mathieu Dion.
(Updates with more details and background)
More stories like this are available on bloomberg.com
©2024 Bloomberg L.P.
