(AOF) – Believe was the subject of an offer at a price of 15 euros per share issued by a consortium – TCV and EQT as well as Denis Ladegaillerie, the CEO and founder of the group – targeting all of the outstanding shares of the company specializing in supporting artists and labels. This amount of 15 euros per share reflects a premium of 21% on the last closing stock price before the announcement of the offer, as well as a respective premium of 43.8% and 52.2% compared to the volume-weighted average of stock prices over the last 30 and 120 days.
The Believe board of directors “unanimously welcomed this proposal,” according to a Believe press release.
An ad-hoc committee was formed, composed of three independent directors and the Ledouble firm was appointed as independent expert.
The consortium plans to acquire from TCV Luxco BD, XAnge and Ventech, historic shareholders of Believe, respectively 41.1%, 6.3% and 12% of the capital.
The public purchase offer should be filed with the AMF during the second quarter of 2024.
Believe, which was listed on the stock market in mid-2021, is taking advantage of this announcement to reiterate its 2023 objectives: organic growth of 14% for the 2023 financial year, an adjusted Ebitda margin slightly above 5.5% and cash -positive available free flow in the second half of 2023.
© 2024 Agence Option Finance (AOF) – All reproduction rights reserved by AOF. AOF collects its data from the sources it considers the safest. However, the reader remains solely responsible for their interpretation and use of the information made available to them. The reader must therefore hold AOF and its contributors harmless from any claim resulting from this use. Agence Option Finance (AOF) is a brand of the Option Finance group
Did you like this article ? Share it with your friends using the buttons below.
