London — EMI Group Ltd (EMI), one of the world’s major music companies, announced Monday that the Board of Directors of its holding company, EMI Group Global, has launched a review to determine whether recapitalization, a possible sale or an IPO are options.
The company, which is owned by Citigroup, made a statement that there was no certainty that the process would result in a transaction, and that they would not disclose further development until their board had approved the strategic plan.
EMI was acquired by Citigroup in February, which in turn announced a recapitalization of the company to reduce its debt by 65%, and provide over $484 million in financing.
Related Links:
http://www.emimusic.com/news/2011/emi-group-to-explore-strategic-alternatives
