02 Feb Citigroup Takes Over EMI
Posted at 06:24h
in Uncategorized
Citigroup has acquired EMI Group and has recapitalized the major label group in a debt-for-equity swap, the two sides announced Tuesday. As a result, the company’s debt has been reduced by 65% from £3.4 billion to £1.2 billion, and the company has in excess of £300 million of cash available, EMI said in a press release