Tag Archives: Citigroup

Citigroup Likely To Sell EMI In Two Parts, Bidding Starts To Heat Up

Posted by on October 27, 2011

Though the record industry as a whole is going through a rough time, EMI has especially experienced its fair share of trouble. That’s why it’s no surprise that Citigroup Bank is anxious to sell the famed label less than a year after acquiring it from equity firm Terra Firma. And while there were reports floating […]

Read more

Citigroup Takes Over EMI

Posted by on February 1, 2011

EMI, one of the big four label groups, has been sold to Citigroup. The group was sold by Terra Firma, an equity firm that had bought it in 2007 for $4.2 billion. The label group was acquired in a debt for equity swap, which reduces EMI’s debt from 3.4 billion Pounds to 1.2 billion Pounds, […]

Read more

Documents: EMI Was Almost Broken Up

Posted by on February 15, 2010

According to court documents filed in New York, the chairman of Terra Firma Capital Partners Ltd., owners of  EMI Group, proposed to break up the music company in November. Guy Hands proposed splitting the group’s music publishing and recorded music divisions in a letter to their lender, Citigroup Inc., the Wall Street Journal revealed, calling […]

Read more