AsiaVision/E+ via Getty Images
Canadian payments processor Nuvei Corp. (NASDAQ:NVEI), which is backed by celebrity entrepeneur Ryan Reynolds, is nearing a buyout from private equity firm Advent International.
Advent is in advanced discussions with Nuvei (NVEI) for a deal that may be announced soon, according to a WSJ report on Saturday, which cited people familiar with the matter. It’s possible that the talks could still fall apart.
A potential deal comes after Nuvei (NVEI) announced in April that the Canadian fintech firm received an investment from Hollywood actor Reynolds. Reynolds’ investment in Nuvei came less than a month after it was revealed that T-Mobile US had agreed to purchase Mint Mobile, the low-cost wireless service that was partially owned by him, for $1.35 billion.
Shares of Nuvei (NVEI) have plunged almost 50% over the past year and are down 83% from their high of $C$170 in September 2021. Nuvei has a market cap of $3 billion.
Nuvei (NVEI) is scheduled to present at the Bank of America Securities 2024 Electronic Payments Symposium on Tuesday.