North American payment provider Nuvei Corporation has reached an agreement to acquire London-listed online payment processor SafeCharge for £699m.

Nuvei will acquire the entire issued and to be issued ordinary share capital of SafeCharge through a wholly-owned indirect subsidiary, Nuvei Bidco.

Under the terms of the deal, SafeCharge shareholders will be entitled to receive $5.55 (equivalent to £4.36) in cash for each SafeCharge share, representing a premium of approximately 25 per cent to the company’s closing price of £3.50 on Tuesday. The agreement values the fully diluted share capital of SafeCharge at approximately $889m (£699m).

Premium subscribers continue here to the full article.