Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Guy Hands Reaped $5.4 Million Dividend From Terra Firma in April

Don't Miss Out —
Follow us on:

Jan. 10 (Bloomberg) -- Guy Hands reaped a 3.5 million-pound ($5.4 million) dividend from Terra Firma Capital Partners Ltd. two months after the private-equity firm he founded lost control of record label EMI Group Ltd.

The firm made the payment last April, according to a Jan. 4 filing at the U.K.’s Companies House. That’s down from a 12 million-pound dividend for the year ended March 2010 and none for the year ended last March, filings show.

Terra Firma, which manages a 5.4 billion-euro ($6.9 billion) leveraged buyout fund, ceded control of EMI to New York-based Citigroup Inc. last February as the record label struggled to meet the terms of 3.4 billion pounds in loans the private-equity investor used to fund its takeover in 2007. Citigroup has since agreed to sell the 114-year-old British music company in pieces to Vivendi SA and Sony Corp.

Terra Firma Capital Partners posted 2.25 million pounds in profit on ordinary activities after tax for the year ended March 31, a 3 percent decline compared with the year before. It posted an 8.7 percent slump in revenue to 29.9 million pounds, the filing shows.

To contact the reporter on this story: Anne-Sylvaine Chassany in Paris at achassany@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.