By Dominic Chopping


A 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.

The consortium, which also includes investment firm TCV and Believe's founder and chief executive, said Monday that they will pay EUR15 a share and have already agreed to buy 71.92% of the company from certain existing shareholders.

Completion of the stake buy is expected to take place during the second quarter, and the consortium will then launch a tender offer for the remaining shares.

The offer represents a 21% premium to Believe's closing price on Friday of EUR12.40.


Write to Dominic Chopping at dominic.chopping@wsj.com


(END) Dow Jones Newswires

02-12-24 0227ET