MONTRÉAL, Nov. 15, 2024 /CNW/ - This press release is being disseminated as required by Regulation 62-103 respecting the Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("Regulation 62-103") by Caisse de dépôt et placement du Québec ("CDPQ") in respect of its ownership position in Nuvei Corporation ("Nuvei").
Nuvei today announced the closing of the arrangement for its going private transaction with Advent International ("Advent"), with the support of each of the Nuvei's holders of multiple voting shares ("Multiple Voting Shares"), being Mr. Philip Fayer, certain investment funds managed by Novacap Management Inc. (collectively, "Novacap") and CDPQ (the "Transaction").
Pursuant to the Transaction, Neon Maple Purchaser Inc. (the "Purchaser"), an entity organized by Advent, acquired, directly or indirectly, all the issued and outstanding subordinate voting shares of Nuvei (the "Subordinate Voting Shares") and Multiple Voting Shares (collectively, the "Nuvei Shares") at a price of US$34.00 per Nuvei Share.
Prior to the closing of the Transaction, CDPQ owned 17,652,159 Multiple Voting Shares, representing approximately 23.21% of the then issued and outstanding Multiple Voting Shares and 21.35% of the then outstanding voting rights.
Further to the completion of the Transaction, CDPQ became a shareholder of the Purchaser's indirect parent company and no longer beneficially owns or controls any Nuvei Shares. CDPQ now indirectly owns or controls approximately 12% of the equity in the resulting private company.
Further to the requirements of Regulation 62-103, CDPQ will file an early warning report in connection with its participation in the Transaction. A copy of CDPQ's related early warning report will be filed with the applicable securities commissions and will be made available on SEDAR+ at www.sedarplus.ca.
About CDPQ
At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pension and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at June 30, 2024, CDPQ's net assets totaled C$452 billion. For more information, visit cdpq.com, consult our LinkedIn or Instagram pages, or follow us on X.
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