Believe announced on Monday that it had received an offer from a consortium to buy all its outstanding shares at a price of 15 euros per share, in a deal that values the French digital music group at around 1.52 billion euros.

Reuters had reported in January that Believe was considering a takeover offer.

Under the terms of the offer, the consortium - made up of US investment firm TCV, Swedish private equity group EQT and Believe Chairman and CEO Denis Ladegaillerie - would initially take 71.92% of Believe, then launch an offer for the remainder of the Paris-based group, it said.

According to the consortium, Believe's board of directors supports its proposal, which represents a 21% premium to the music group's closing price on Friday, and a 43.8% and 52.2% premium respectively to the 30- and 120-day volume-weighted average prices.

The tender offer is expected to be filed with the Autorité des marchés financiers (AMF) in the second quarter of this year.

Believe confirmed its full-year guidance of 14% organic growth and an adjusted Ebitda margin slightly above 5.5%.

On the Paris Bourse, Believe's trading was suspended at around 09:30 GMT, whereas the share price was up 9.7% before the opening. (Written by Dominique Vidalon; French version by Zhifan Liu and Claude Chendjou, edited by Kate Entringer)