Advent in advanced talks to buy Ryan Reynolds-backed Nuvei

(Bloomberg) — Advent International is in advanced talks to acquire Canadian payment processor Nuvei Corp. to take over, people familiar with the matter said, in a further sign that confidence is returning among private equity dealmakers.

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The buyout company is finalizing its bid for Nuvei and a deal could be announced as early as Monday, according to the people, who asked not to be identified discussing confidential information.

Although deliberations are at an advanced stage, they could still be postponed, the people said. Representatives for Advent and Nuvei declined to comment.

Shares in Nuvei have risen more than 10% since March 18 after The Wall Street Journal reported the company was in advanced talks with Advent. The stock had fallen 47% in the twelve months to date. Nuvei has a market value of approximately $4.4 billion.

Backed by Canadian actor Ryan Reynolds, Nuvei offers payout and withdrawal services and works with brands such as Virgin Atlantic Airways Ltd., fashion retailer Shein Group Ltd. and sports betting DraftKings Inc. and BetMGM, according to its website.

The value of private equity buyouts targeting companies in North America has risen nearly 7% this year to about $44 billion, according to data compiled by Bloomberg. That compares to a 38% increase for broader mergers and acquisitions focused on the region.

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