Could EMI Sell For Half Its Purchase Price?
December 21, 2009 at 4:00 AM (PT)
BLOOMBERG NEWS reports CITIGROUP INC. "has approached potential buyers for EMI GROUP LTD. in an attempt to force its private-equity owners, TERRA FIRMA CAPITAL PARTNERS LTD., to sell."
CITIGROUP which is the subject of a lawsuit filed by TERRA FIRMA over EMI’s sale (NET NEWS 12/18), has approached WARBURG PINCUS LLC and Sweden’s EQT, as well as WARNER MUSIC GROUP CORP, says the report.
"Any sale price could be half the 4 billion pounds ($6.5 billion) TERRA FIRMA paid for EMI in 2007," said the report.