The recapitalization of EMI by Citi is an extremely positive step for the company. It has given us one of the most robust balance sheets in the industry with a modest level of debt and substantial liquidity. With that solid footing, we are confident in our ability to drive our business forward."
Whatever the balance sheet, its unlikely that the bankers have any interest in owning or running a music group. Thus, leaving the sale of EMImost likely in piecesalmost inevitable.
Stay tuned for industry reaction and details of possible suitors...
Full Text Of Statement: EMI announces successful capital restructuring, and change of ownership