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Citigroup set for EMI strategic review


By The Drum Team, Editorial

June 21, 2011 | 2 min read

Citigroup has begun a strategic review of music company EMI which could see it aim to offload the music label.

EMI, which was bought by Citigroup in February, could be sold off following the review, although this may also result in share floatation or a restructuring of the company’s finances.

A spokesperson however refused to comment on the outcome of the review, saying; "The company does not intend to disclose developments with respect to its strategic review process unless and until its board of directors has approved a specific transaction."

The label, which plays host to artists such as Coldplay and Katy Perry, was acquired earlier this year after private equity group Terra Firma, failed to meet its loan payments following a £4.2bn acquisition in 2007.


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