Denis Ladegaillerie’s consortium now owns 94.99% of Believe, as the former Shazam boss joins the company’s board.

The new Believe identity structure is evolving.

The company confirmed today (June 24) that 94.99% of its budget is now managed by a consortium that includes EQT X, TVV, and Believe the founder Denis Ladegaillerie.

I Ladegaillerie Consortium is given 15 Euro per share in its request to take; Believe it public shareholders have until Friday (June 21) to accept or reject that offer.

Ladegaillerie’s Consortium previously confirmed the discovery of 71.92% of faith in a ‘Block Finding’ at this price from existing shareholders: 59.46% from TCV Luxco BD S.à rl., Ventech again I didn’t; and Ladegaillerie’s 12.5% a pole.

Overall, The Ladegaillerie and co they have earned it 95,664,105 shares at the expense of EUR 1.43 billion (always USD $1.54 billion at current exchange rates).

That said, the two parties in the new consortium—The Ladegaillerie again TCV—successfully acquired shares from them through that ‘Block Acquisition’.

I The Ladegaillerie Consortium bid prices Believe it The entire budget is approx €1.51 billion ($1.62bn).

EQT he said that before, with his share in Ladegaillerie Consortiumexpects to be “30-35% invested” in faith; this means that EQT X owns about a third of the corporation’s shares (‘Upbeat Bidco’).

A 94.99% joint venture is being discussed. Believe it sharing, Denis Ladegaillerie today he said: “Following a friendly takeover bid that we initiated, the Consortium now owns 95% of Believe’s capital.

“Our shareholders have surprisingly decided to tender their shares in this offering, resulting in a real success! With the financial development and proven expertise of the Consortium members, the group is now better equipped to achieve our collective goal: to Believe it a global leader in independent music, serving artists and labels around the world.”

An interesting quirk of the new ownership structure (as you can see above): It moves 5.01% of shares as a ‘free float’ on the Euronext public market.

According to Euronext’s FAQs (see below), the stock exchange requires each company to have a minimum of floating share capital. 5% of their company (if only 5% it is more important €5 million).

In other words, it appears at least it is possible that i 5.01% of public shareholders I didn’t accepted The Ladegaillerie and the co’s €15-per-share offering may still be allowed to continue holding/trading their shares on Paris Euronext.

Aligned with this new stock structure and Ventech is selling its entire stake in Believe, the company’s board of directors has seen some changes.

Joining the Believe board as an EQT X representative Andrew Fisher.

Fisher is a former CEO Shazampart of what Believe calls Fisher’s “huge experience in the music industry.”

Fisher’s confirmation on the board of Believe will be put to the vote of the company’s AGM next year in 2025.

Believe’s board of directors has also appointed two observers, Michael Kalfayan (General Partner at TCV) and Nicolas Brugère (Partner at EQT, Head of France and Benelux).

Earlier this year, Warner Music Group made a competitive $1.8 billion bid to acquire Believe, but this ultimately fell through.

Warner had thought of doing a EUR17-per share-plus ask to get Believe but decided not to pursue it in April.

Ladegaillerie’s consortium first launched its Believe program in February.

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