Upbeat BidCo acquires majority of Believe, delisting imminent
Upbeat BidCo has secured a majority shareholding in Believe, a digital music distribution company for independent artists and labels. The company's listing on Euronext Paris is set to be terminated following a successful takeover offer.
Paris, France – Upbeat BidCo has acquired a majority stake in digital music distributor Believe, securing 98.67% of the company's share capital and 97.40% of its voting rights. The result of the tender offer, initiated by Upbeat BidCo, was announced by the Autorité des Marchés Financiers (AMF) on July 22, 2025.
Upbeat BidCo intends to apply to the AMF in the coming days to implement a mandatory buy-out procedure. This process will transfer all remaining Believe shares not tendered in the offer to Upbeat BidCo, at the same price of €17.20 per share. Consequently, Believe's shares, previously listed on Euronext Paris, will be suspended from trading until the mandatory buy-out is completed.
Believe, which provides digital solutions for independent artists and labels, operates globally in over 50 countries with 2,037 employees. The company has announced it will cease its financial communications and will not publish its half-year results following this transition.
The company's portfolio includes brands such as Believe, TuneCore, Nuclear Blast, and Naïve. Prior to this acquisition, Believe was a significant player in the digital music market, supporting the development of artists and labels worldwide.