By Dominic ChoppingA consortium of investors including private-equity company EQT have agreed to make a 1.52 billion euros ($1.64 billion) takeover bid for French digital music company Believe. "Since being a public company, Believe has systematically outperformed its objectives, delivering its IPO plan two years ahead of schedule," Believe CEO Denis Ladegaillerie said in a statement. "However the strength of its operational performance has not been reflected in the share price evolution. Believe has a significant opportunity ahead to consolidate the independent music market." With the deal, EQT said its EQT X fund is expected to be 30%-35% invested.

Source: Wall Street Journal February 12, 2024 08:02 UTC