Citigroup takes control of EMI

Investment bank Citigroup has seized control of record label EMI from beleaguered financier Guy Hands, it was announced today.

Citigroup takes control of EMI
Tue, 01 Feb, 2011 - 17:10

Investment bank Citigroup has seized control of record label EMI from beleaguered financier Guy Hands, it was announced today.

EMI – home to artists including Lily Allen and Robbie Williams – has seen its debt reduced from £3.4bn (€4bn) to £1.2bn (€1.4bn) under terms of the deal.

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