Upbeat BidCo moves to squeeze out remaining Believe shareholders
Following the completion of its public buyout offer, Upbeat BidCo holds over 98% of Believe, triggering a mandatory squeeze-out process.
The French financial markets authority (AMF) has confirmed that Upbeat BidCo now holds a 98.67% stake in music firm Believe following the close of its buyout offer on July 21, 2025. This threshold allows the acquirer to initiate a mandatory squeeze-out procedure for all remaining shares not yet tendered.
Under the terms of the squeeze-out, remaining shareholders will receive 17.20 euros per share, matching the price offered during the initial buyout phase. Trading of Believe shares on Euronext Paris has been suspended for the duration of this legal process.
As the company prepares to transition to private ownership, Believe will cease its public financial disclosures. The firm has confirmed it will not publish its 2025 half-year financial results.