Music: a consortium will increase the capital of Believe, withdrawal from the stock market in sight

Less than three years after its IPO in mid-2021, Believe could already be destined to exit. A consortium made up of its CEO, Denis Ladegaillerie, as well as the EQT and TCV funds, announced on Monday its intention to acquire a block of 71.9% of the capital of the French specialist in music distribution, to then launch – if the conditions are met – a public purchase offer for all of the remaining shares.

In detail, the consortium plans to acquire from TCV Luxco BD, XAnge and Ventech, historic shareholders of Believe, the shares they hold, respectively approximately 41.1%, 6.3% and 12% of the capital. Furthermore, it is envisaged that Denis Ladegaillerie, founder of Believe, will contribute his 11.2% stake and transfer his remaining stake (1.3% of the capital) to the consortium. Other shareholders have also committed to contributing approximately 3% of the shares to the consortium.

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