Deezer it would be close to listing on the stock exchange. The French streeming music service, one of the main competitors of Spotify and Apple Music, according to what the Wall Street Journal reveals, will go public in Paris through a Spac (Special Purpose Acquisition Company) backed by the French Pinault family, majority shareholder of the luxury giant Kering, owner, among others, of the Gucci, Bottega Veneta and Balenciaga brands.
The interest of luxury in streaming music
The Wall Street Journal cites sources close to the negotiation, which explain how to motivate the move of the Pinault family is above all the exponential growth of the streaming music market. Deezer, as revealed by the American financial daily, will merge with I2PO SA, a vehicle company that will serve to bring the operation to fruition. Along with the Pinault family, Centerview Partners banker Matthieu Pigasse is behind the vehicle company and is led by former WarnerMedia executive Iris Knobloch. The deal, if finalized, could be announced in the coming days, but at the moment it is unclear how much the transaction could be worth.
Prices, quality, playlists: music streaming services compared
by Ernesto Assante
What are the Spacs
Spacs are particular companies: they do not have their own operations on the market, but are created for the sole purpose of raising capital and using it to buy another company (defined as the target company). Once the acquisition or merger operation is completed, the acquired company finds itself listed on the stock exchange, as in this case it should happen to Deezer, which would land on the Parisian Cac 40.