EMI Owner Terra Firma Sues Citigroup Over Purchase
The private equity company is accusing the bank, which brokered the 2007 sale, of falsely claiming that other bidders were in the frame. By BBC
View ArticleReport: Citigroup Lining Up EMI Buyers
U.K. paper The Observer reports that Citigroup has approached private equity firms in the U.S. and Sweden, as well as Warner Music over purchasing EMI. The move is said to be in response to concerns...
View ArticleEMI Owner Orders New Strategic Plan
Guy Hands has asked EMI Music chief executive Elio Leoni-Sceti to draw up a new plan for the recorded music company, in order to persuade Terra Firma investors to inject a reported £100 million ($158.5...
View ArticleCash Infusion For EMI
Private equity firm Terra Firma will reportedly pay 105 million 105 million pounds ($155.4 million) into to prevent Citigroup from taking control of the troubled music company. According to Reuters,...
View ArticleEMI ‘Repositions’ As Rights Management Company, Names New Chief
EMI Group says it is restructuring its management to “enable the company to reposition itself as a comprehensive rights management company that can take full advantage of all global opportunities in...
View ArticleEMI Owner Mulls Its Next Move
Citigroup successfully defended itself in a New York federal court last week against Guy Hands’ accusations that the banking firm’s misrepresentations led Hands to overpay for EMI. Now Terra Firma,...
View ArticleTerra Firma Appeals EMI Decision in Suit Against Citigroup
Guy Hands, head of private equity firm Terra Firma, is appealing a New York federal jury’s rejection of his claim that misrepresentations about EMI by Citigroup led him to overpay for the label. The...
View ArticleCiti Acquires and Recapitalizes EMI
Citigroup announced its 100% acquisition of EMI Group Ltd. from its private equity investors, along with the immediate reduction of nearly two-thirds of the music company’s debt. Under the...
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