Citigroup as Arranger of the Financing for Terra Firma Capital Partner's £3.2 Billion Public Offer for EMI Group Plc.

May 21, 2007

Cleary Gottlieb is representing long-time client Citigroup as arranger of the financing for Terra Firma Capital Partners’s £3.2 billion cash buyout of EMI Group Plc., which was announced on May 21.

EMI is the world’s third-largest music company in terms of sales and releases music by the Beatles and Coldplay. EMI had been trying for seven years to merge with Warner Music Group Corp. but, in recommending Terra Firma’s offer, said it came “without regulatory uncertainty and with the minimum of operational risk to the company.”