April 18 (Reuters) - Concord Chorus, a music and

theatrical rights firm, has agreed to acquire British music

investor Hipgnosis Songs Fund ( HPGSF ) for $1.40 billion, the

companies said on Thursday.

Shareholders of Hipgnosis Songs will get $1.16 apiece in

cash, representing a premium of about 32% based on current

exchange rates, and the company's board plans to unanimously

back the deal.

Concord said its financing partner Apollo Global Management ( APO )

will help finance the deal.

Concord is indirectly controlled by Alchemy Copyrights,

which acquired music copyright-focussed investment firm Round

Hill Music Royalty Fund last year.

($1 = 0.8016 pounds)