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News on Medial
Canadian payments company Nuvei to evaluate offers to go private
Economic Times
·
1y ago
Medial
Nuvei, a Canadian payments technology company, is considering proposals to take the company private. Private equity firm Advent International is reportedly in advanced talks to acquire Nuvei. The company, backed by actor Ryan Reynolds, has formed a special committee to evaluate expressions of interest, including a going-private deal, and explore other strategic options. Nuvei has engaged in discussions but has not made any agreements or decisions regarding a privatization deal. Nuvei's shares have declined since its acquisition of Paya Holdings last year, which was criticized by a short seller.
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Canadian payments processor Nuvei explores options including going private
Reuters
·
1y ago
Medial
Canadian payments technology company Nuvei is considering strategic alternatives, including a possible deal to go private. This comes after reports that private equity firm Advent International is in advanced talks to acquire Nuvei.
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Advent to buy Ryan Reynolds-backed fintech Nuvei in $6.3 bln deal
Reuters
·
1y ago
Medial
Private equity firm Advent International has agreed to acquire Canada's payments technology firm Nuvei for $6.3 billion. Nuvei provides businesses with payments technology solutions, allowing them to accept payments from customers globally. The deal represents a premium of 56% to Nuvei's closing price on Nasdaq. CEO Philip Fayer will continue to lead the company, and Nuvei will remain headquartered in Montreal. The deal is expected to close in late 2024 or the first quarter of 2025.
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Haldiram promoters resist PE offers; Stripe may buy stake in SBI Payments
VCCircle
·
1y ago
Medial
The promoters of Haldiram Snacks Foods are resisting offers from private equity firms to buy stakes in the company. Despite receiving non-binding offers, the promoters are not interested in selling their shares. This comes as Stripe, the online payment company, is reportedly looking to acquire a stake in SBI Payments.
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OTPP-backed Sahyadri Hospitals draws interest from PE firms, strategic suitors
VCCircle
·
7m ago
Medial
Several private equity firms and strategic suitors are expressing interest in Sahyadri Hospitals, a healthcare company backed by Ontario Teachers’ Pension Plan (OTPP). The Canadian pension fund is seeking to reduce its stake in the company. Bids have been submitted by both international and Indian firms.
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Quadria Capital mulls another exit from India portfolio
VCCircle
·
1y ago
Medial
Healthcare-focused private equity firm Quadria Capital is considering selling its stake in an Indian portfolio company that it invested in three years ago. The private equity firm is currently raising funds for its latest fund and has achieved successful exits in the past. Quadria Capital's decision to exit the investment is part of its strategy to continuously evaluate and optimize its portfolio.
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Grapevine: KKR mulls JB Pharma sale; Bharti eyes Del Monte JV exit
VCCircle
·
1y ago
Medial
Private equity firm KKR is considering selling its majority stake in JB Chemicals & Pharmaceuticals Ltd. KKR is reportedly hiring financial advisers to evaluate the potential sale. Meanwhile, Bharti Group is also exploring options to exit its joint venture with Del Monte, a fruit and vegetable processing company.
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BharatPe to launch new entity BharatPe Money for lending vertical
Entrackr
·
1y ago
Medial
Fintech company BharatPe is launching a new subsidiary called BharatPe Money, focusing on lending services for merchants and consumers. The company has created a new subsidiary called Resilient Digi Services Private Limited for this purpose. BharatPe Money offers customized credit products for MSMEs and consumers, along with additional services such as credit card payments and utility bill payments. The company has also recorded its first profitable month in October, with annualized revenue exceeding Rs 1,500 crore.
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How India became a happy hunting ground for Canadian pension funds
VCCircle
·
1y ago
Medial
Canadian pension funds, including the Canada Pension Plan Investment Board (CPPIB), have increasingly invested billions of dollars in India since 2010. CPPIB made its initial India investment by supporting a local private equity fund, and other Canadian pension funds followed suit. These investments reflect a growing trend of Canadian pension funds seeking opportunities in India's market. However, recent economic challenges have also put some strain on these investments.
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Samsung launches BP, ECG tracking features on Galaxy Watch6 series in India
Startup News FYI
·
1y ago
Medial
Samsung has launched blood pressure (BP) and electrocardiogram (ECG) tracking features for the Galaxy Watch6 series in India. These features aim to empower users in monitoring and managing their health, with the ability to measure BP and ECG through the Samsung Health Monitor App. The company has obtained regulatory clearances and certifications for these features. The Galaxy Watch6 series also offers personalized health guidance and a 'Tap & Pay' feature for on-the-go payments.
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RBI directs NPCI to examine Paytm's request for being third-party app for UPI
Livemint
·
1y ago
Medial
The Reserve Bank of India (RBI) has asked the National Payments Corporation of India (NPCI) to evaluate Paytm's request to become a third-party application provider for unified payments interface (UPI) payments. The RBI has also prohibited Paytm Payments Bank from receiving further credits after March 15, 2024. If approved, Paytm will require the support of several banks to continue processing UPI payments. The directive aims to ensure seamless digital payments for UPI customers using the Paytm app and minimize concentration risk in the UPI system. Paytm is the third largest app for UPI payments in India.
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