July 14, 2017 / 6:07 PM / 2 years ago

Sony to buy French music company Believe Digital: Nikkei

FILE PHOTO: A reception staff walks under a logo of Sony Corp at its headquarters in Tokyo February 4, 2015. REUTERS/Yuya Shino/File Photo

(Reuters) - Sony Corp is in the final stages of talks to buy French music distribution and label services provider Believe Digital, the Nikkei business daily reported on Saturday.

Sony Music Entertainment will get a majority stake from the current shareholders for about 40 billion to 50 billion yen ($355.3 million-$444.1 million), the Japanese business daily reported.

The transaction is expected to close this year, according to the Nikkei report.

Both Sony and Believe Digital did not immediately respond to requests for comment.

($1 = 112.5900 yen)

Reporting by Aishwarya Venugopal in Bengaluru; Editing by Shounak Dasgupta

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