Global law firm White & Case LLP has advised Ventech and XAnge, two of the main shareholders in Believe, representing 12.03 percent and 6.29 percent of the company’s share capital respectively, on the proposed takeover bid by a consortium composed of TCV, EQT and Denis Ladegaillerie, founder and chief executive of the company, for all outstanding shares in Believe at a price of €15 per share.
The consortium has agreed to acquire all the shares held by Ventech and XAnge at a price of €15 per share and has set itself the objective of delisting the company by means of a squeeze-out at the end of the offer (should the consortium reach the levels to implement such a procedure). The acquisition of the Ventech and Xange interests remains subject to conditions precedent and the filing of the offer with the French Financial Markets Authority (AMF) is expected in the second half of 2024.
Headquartered in Paris, Believe is one of the world’s leading digital music companies and is listed on the regulated market of Euronext Paris since June 2021.
The White & Case team in Paris which advised on the transaction was led by partners Thomas Le Vert and Franck De Vita.
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