Believe SA’s founder Denis Ladegaillerie has partnered with investment firms in an offer to take the company private in a deal that valued the French record label at €1.46 billion ($1.58 billion) and follows a 36% decline in its shares after a 2021 initial public offering.
Ladegaillerie, who is also the company’s chief executive officer, TCV, the company’s largest shareholder, and private equity firm EQT are offering €15 a share for the Paris-based company’s outstanding stock, the consortium said in a statement on Monday. The offer represents a 21% premium to the shares’ closing price on Friday.
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