From Barchart:

Private equity firm Advent International is in advanced talks to buy Canadian payments technology company Nuvei, backed by actor Ryan Reynolds. The deal, which could be announced soon, would make it one of the more sizable take-private deals in a slowing private equity market. Advent declined to comment, and Nuvei did not immediately respond.

Last year, T-Mobile bought Ka’ena Corp, owner of Ryan Reynolds’ Mint Mobile, for about $1.35 billion, marking the star’s second deal in 12 months. Both Toronto- and Nasdaq-listed shares of Nuvei have fallen since acquiring Paya Holdings for $1.3 billion last year, following short seller allegations.

Nuvei, which helps businesses process transactions, went public in 2020 and raised $700 million. The financial services sector has seen an uptick in dealmaking, with Capital One agreeing to acquire Discover Financial for $35.3 billion in February. Shift4 is also in talks for acquisition amid competition and inflation challenges.



Read more at Barchart: Advent nearing deal to buy Canadian payments processor Nuvei, source says By Reuters