Believe: Upbeat BidCo Launches Mandatory Buyout Offer at €17.20 per Share
Deal News | Jul 04, 2025 | Globenewswire
Upbeat BidCo SAS, supported by advisors BNP Paribas and Goldman Sachs, has launched a public withdrawal offer followed by a mandatory squeeze-out targeting the shares of Believe. The offer price is set at €17.20 per share, with a 10-day trading period, subject to compliance with the French stock market authority AMF regulations. Upbeat BidCo's information document related to this offer has been approved by AMF under Visa No. 25-278, dated July 4, 2025. The offer is restricted to jurisdictions where it is legally authorized. Legal and financial information regarding the offer will be publicly available, ensuring transparency and adherence to regulatory provisions.
Sectors
- Investment Banking
- Music Distribution
Geography
- France – The transaction and regulatory compliance are primarily based in France, involving French market authorities and guidelines.
Industry
- Investment Banking – Involves BNP Paribas and Goldman Sachs as financial advisors in the transaction.
- Music Distribution – Believe, the target company, operates in the music distribution sector.
Financials
- €17.20 per share – This is the offer price proposed by Upbeat BidCo for each Believe share
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Believe | Target | Company | Believe is the company whose shares are targeted in the public offer initiated by Upbeat BidCo. |
| Upbeat BidCo SAS | Bidding Company | Company | Upbeat BidCo SAS is initiating the public withdrawal and mandatory squeeze-out offer for Believe shares. |
| BNP Paribas | Legal Advisor and Guarantor | Company | BNP Paribas is acting as a presenting bank and guarantor for the offer. |
| Goldman Sachs | Legal Advisor | Company | Goldman Sachs is also serving as a presenting bank in the transaction. |
| Autorité des Marchés Financiers (AMF) | Regulator | Government | The French financial market regulator overseeing and approving the offer. |