An investment consortium led by EQT, alongside TCV and Believe's CEO Denis Ladegaillerie, is acquiring a 72% controlling stake in digital music distributor Believe. The deal received unanimous approval from Believe's Board of Directors.

The consortium will launch a public offer for remaining shares at €15 per share, representing a 43.8% premium over the 30-day average stock price. The transaction is now confirmed as "firm and irrevocable" according to official statements.

Denis Ladegaillerie emphasized that this move will strengthen Believe's position as a global leader in independent music distribution: "This operation, with TCV's continued backing and EQT's expertise, will accelerate our growth trajectory and cement our position as the global reference for independent music."

The Board of Directors highlighted several key benefits:

• Immediate liquidity for minority shareholders at a premium price
• Long-term investment opportunities
• Alignment with company mission and values
• Support for continued expansion and technological advancement

This development follows Warner Music Group's recent decision to withdraw from acquisition talks with Believe, after facing concerns about potential market competition issues from independent music organizations.

The acquisition comes during a mixed period for the French music industry:

• Seven consecutive years of growth
• Strong physical media sales
• Challenges with digital sales compared to other markets
• Slowing streaming subscription growth
• Impact from short-form video platforms and streaming service tax increases

The consortium plans to invest heavily in technological advancements and strategic acquisitions to drive growth beyond market rates, maintaining Believe's mission to empower independent artists and labels globally.

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