French Spotify rival Deezer broadcasts Paris IPO

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PARIS, April 18 (Reuters) – French song streaming platform Deezer on Monday introduced plans for a inventory marketplace list in Paris in a deal valuing the trade at simply over 1 billion euros ($1.08 billion), the corporate stated in a remark with a Particular Goal Acquisition Corporate (SPAC) 12PO.

The transaction will worth Deezer at a pre-money fairness worth of one.05 billion euros, akin to an endeavor worth of roughly 1.08 billion euros, Deezer stated.

“Deezer is poised to proceed to seize an important percentage within the booming song streaming enlargement”, Iris Knobloch, the chairwoman of the SPAC, stated in a remark.

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Deezer Leader Govt Guillaume d’Hauteville added “lately’s transaction is some other landmark for Get entry to Industries as we adore to assist our song and virtual investments, comparable to Deezer, Spotify, Beats, Warner Song or DAZN, to call a couple of, develop and turn out to be references of their respective markets.”

Deezer’s a lot better rival and primary competitor Spotify (SPOT.N), which performed its preliminary public providing in 2018, lately has a marketplace capitalisation of round $26 billion.

($1 = 0.9273 euros)

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Reporting through Tassilo Hummel;
Modifying through Andrew Cawthorne and Marguerita Choy

Our Requirements: The Thomson Reuters Consider Rules.

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