Citigroup takes over EMI
Price: $3.55 million
Date: Feb. 1, 2011
Type: Private equity, cross-border, company takeover, debt for equity, recapitalization
Status: Completed Feb. 1, 2011
Citigroup (C) took control of EMI, the record label of Pink Floyd and the Beatles, after its owner, British financier Guy Hands, was unable to meet the terms of his loans. A sale could raise about $2 billion, according to New York investment bank Needham, and cover EMI's $1.94 billion of debt.