Believe: no squeeze-out planned following takeover bid

(CercleFinance.com) - The consortium of investors behind a takeover bid for digital music group Believe said on Friday that it had no intention of requesting a squeeze-out following the operation.


The consortium - led by Swedish investment fund EQT - said it wanted to enable the company to continue to develop around its founder, Denis Ladegaillerie, 'while respecting the values carried by the company'.

As a reminder, the consortium has signed agreements with Believe's main shareholders (TCV, XAnge, Ventech and Denis Ladegaillerie) to acquire 71.9% of the capital at a price of 15 euros per share.

Following completion of these acquisitions, the consortium plans to file a simplified tender offer for the shares, also at a price of 15 euros per share.

In a brief press release, the consortium states that all the necessary antitrust authorizations have now been obtained.

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