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EMI Caught-up?

Troubled label giant EMI is now caught in another debt-tussle: British private equity firm Terra Firma Capital Partners has proposed to Citigroup Inc that the debt of music group EMI be restructured, a request that was rejected by Citigroup.

Terra Firma had offered to pump into EMI the equivalent of USD$1.68 billion, on the condition that Citigroup waives a part of their EMI loan, a proposal Citigroup felt was not to their advantage.

Terra Firma has repeatedly injected money into EMI, in their belief that the label will eventually turn over profits like it used to. Says a Terra Firma spokesperson, “We continue to believe EMI is an excellent company and we remain committed to doing all we can in the best interests of EMI.”


17/11/2009 - Posted by | Music News | , , , , ,

1 Comment »

  1. Thank you,
    very interesting article

    Comment by ostrov | 03/12/2009 | Reply

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