Advent, a private equity firm, closing in on acquisition of Canadian payments processor Nuvei - WSJ

Canadian payments processor Nuvei Corp. (NASDAQ:NVEI), known for its celebrity endorsement from Ryan Reynolds, is currently in talks for a potential acquisition by private equity firm Advent International. Sources familiar with the matter have indicated that a deal may be announced shortly, although there is still a possibility that discussions could fall through.

The news of this acquisition comes on the heels of Nuvei's recent investment from Hollywood actor Reynolds, following T-Mobile US's acquisition of Mint Mobile, a wireless service partially owned by Reynolds, for $1.35 billion. Despite these positive developments, Nuvei's stock has seen a significant decline, dropping nearly 50% over the past year and 83% from its peak in September 2021.

However, with a market capitalization of $3 billion, Nuvei remains an appealing target for potential buyers.