One of the Biggest FinTech Deals of the Year: Advent International Acquires Nuvei Shares
November, 2024 - Lithuania
Ellex Valiunas advised one of the largest private equity firms Advent International on its proposed acquisition of Nuvei Corporation, a global payment processing platform listed in Canada (Nasdaq: NVEI) (TSX: NVEI).
Total value of the transaction is approximately USD 6.3 billion.
As one of the most advanced financial technology service providers in the world, Nuvei creates international products that facilitate and accelerate the development of business organizations, providing everyone with the payment channels they need, the means to reach consumers around the world easily and quickly.
After delisting from the stock exchange current shareholders Philip Fayer, Novacap and CDPQ will indirectly own approximately 24%, 18% and 12%, respectively, of the equity in the resulting private company as part of the agreement, while remaining 46% will be owned by the new investor Advent International. The strategic alliance between Advent International and existing shareholders should ensure the successful development of Nuvei.
Ellex in Lithuania acted as local legal counsel to the client, performed legal due diligence on Nuvei’s subsidiaries in Lithuania, prepared a regulatory notification to the Bank of Lithuania in order to obtain approval with respect to the proposed transaction, and advised on the terms and conditions of certain transaction documents.
Ellex cooperated with the international law firm Kirkland & Ellis, which led the client’s transaction globally.
In Lithuania, the project was led by Ellex Valiunas Partner and Head of the Banking and Finance team Ieva Dosinaitė, Expert Lina Radavičienė, and Senior Associate Domantas Gudonis, while number of other Ellex professionals contributed to the performance of legal due diligence.
