Advent International in the process of acquiring payments fintech from Ryan Reynolds – Banking & Finance

Advent International is in the process of acquiring Nuvei – a Canadian payments processing company owned by actor Ryan Reynolds -, Bloomberg reports citing sources familiar with the matter, a sign that the appetite for mergers and acquisitions on the part of investment funds Private capital may be returning.

The purchase agreement could be announced this Monday.

Nuvei’s shares have appreciated more than 10% since March 18, the date on which The Wall Street Journal revealed that the two companies were in advanced talks. The increase marks a reversal compared to the 47% drop in the previous 12 months.

This Monday, the shares of the Montreal-based company continue to add 4.97% to 44.95 Canadian dollars, which increases the market capitalization to 6.26 billion Canadian dollars, which is equivalent to 4.28 billion euros.

Nuvei is owned by Hollywood star Ryan Reynolds, provides cash in and out services and has partnerships with brands such as Virgil Atlantic Airways, Shein and betting companies such as DraftKings and BetMGM.

The value of acquisitions by private equity companies targeting North American companies increased by almost 7% this year, to around 44 billion dollars (40.8 billion euros), according to data compiled by Bloomberg. This figure compares with a 38% increase in total mergers and acquisitions in the region.