Deezer Raises €160 Million from New and Existing Investors
August 22, 2018
Cleary Gottlieb represented Deezer in connection with its share capital increase of €160 million subscribed by existing shareholders Access Industries, Orange, and LBO France, and two new investors, Kingdom Holding Company and Rotana, led by Chairman HRH Prince Al Waleed Bin Talal Abdulaziz Al Salud.
The transaction values Deezer at €1 billion. New funding will be used to accelerate Deezer’s successful expansion.
Alongside the private placement, Rotana and Deezer have also signed an exclusive long-term license agreement to distribute Rotana’s popular digital audio and video content in the Middle East and North Africa region.
Deezer is a leading global provider of on-demand music and audio streaming services, offering millions of listeners access to music from a catalogue of over 53 million tracks available in over 180 countries.
Deezer is a privately held company founded in 2007 and headquartered in Paris.