Citigroup is seeking buyers for U.K. music company, EMI Group, The Wall Street Journal reports. The U.S. lender is expected to take control of the London-based company from U.K. financer, Guy Hands, three months after a default. The business will go to Citi, if Hands fails to come up with the nearly $318 million required to make up for the shortfall of the targets. KKR, CPP Investment Board, Bertelsmann, Sony Music Entertainment, Vivendi’s Universal Music Group and Warner Music have shown interest in EMI. The price tag for all of EMI is expected to be in the range of $2.8 billion.
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