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November 16, 2009

EMI Bailout Rejected by Citigroup...

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Billboard:

Citigroup Inc recently rejected a proposal from Guy Hands’ private equity firm Terra Firma Capital Partners to restructure the debt of music group EMI, the Wall Street Journal said on Monday.

The buyout firm had offered to inject about £1 billion ($1.67 billion) into EMI in exchange for Citigroup waving a similar proportion of its $2.6 billion of EMI loans, the paper said, citing people familiar with the matter.



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