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EMI Music Group Sale To Fetch Citi $4.1B

A wholly owned subsidiary of Citigroup is selling music company EMI Group.

    A wholly owned subsidiary ofCitigroupis selling music companyEMIGroup. An investor group led bySony Corp. of Americawill be acquiringEMI Music Publishingfor $2.2 billion. EMI’s recorded music business will be taken over by French media conglomerateVivendi’sUniversal Music Groupfor $1.9 billion, addsFinancial Times.

    On the deal,CitiGlobal Banking was financial adviser to Citi and EMI.TheRaineGroup,Peter J. Solomon Co.,UBS Investment BankandGuggenheim Securitiesacted as financial advisers to the Sony-led consortium.

    Click here for the release fromCitigroup.

    Click here for additional coverage fromFinancial Times.

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