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Will Believe Go Private? Denis Ladegaillerie-Led Consortium Launches Takeover Bid
A Believe takeover proposal submitted by Denis Ladegaillerie and two investment partners values the company's total share value at $1.64 billion.
Believe founder and CEO Denis Ladegaillerie has formed a consortium with investment funds EQT and TCV as part of a wider effort to acquire full ownership of the French music company and take it private. Completion of the acquisitions of the blocks of shares is expected to take place during the second quarter of 2024, and the filing of the subsequent tender offer would be sent to the Autorité des marchés financiers (AMF), which regulates the stock market in France, soon after. In prepared comments, Ladegaillerie said Believe has “systematically outperformed its objectives, delivering its IPO plan two years ahead of schedule” but “the strength of its operational performance has not been reflected in the share price evolution.”
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