Citigroup has acquired 100% of EMI
Citigroup has announced that they have acquired 100% of EMI, and swiftly recapitalised the music group to slash its debt from £3.4 billion to £1.2 billion, with £300 million of cash now available for investment.
CITIGROUP has taken over debt-strapped music firm EMI Group after the failed purchase by UK private equity firm Terra Firma.