Citi Successfully Completes Sale Of EMI Music
September 28, 2012 at 7:41 AM (PT)
The sale of EMI MUSIC to UNIVERSAL MUSIC GROUP is official, as CITIGROUP has announced the successful completion of the sale of EMI GROUP's recorded music division to VIVENDI and its subsidiary, UMG. CITI received total consideration of £1.2 billion for EMI MUSIC, which operates around the world and represents artists through record labels including ANGEL, ASTRALWERKS, BLUE NOTE, CAPITOL, CAPITOL LATIN, CAPITOL RECORDS NASHVILLE, EMI CLASSICS, EMI CMG, EMI RECORDS, EMI RECORDS NASHVILLE, MANHATTAN, PARLOPHONE, VIRGIN CLASSICS and VIRGIN RECORDS.
"We are grateful to ROGER FAXON, his management team and the EMI staff for the remarkable success of this business during CITI's ownership," stated EMI GROUP Global Limited Chairman of the Board and CITIGROUP Vice Chairman STEPHEN VOLK.