WaTunes: EMI in line for £360m cash injection?

April 20, 2010 at 9:40 pm Leave a comment

Source: Music Week

Terra Firma chairman Guy Hands is set to ask investors for a further £360 million to secure the future of EMI Group, according to the Financial Times.

Hands is reportedly hoping to triple the £120m that the music company needs to raise before June in an attempt to fund EMI through to 2015 when it can renegotiate its loans with Citigroup.

New EMI Music executive chairman Charles Allen is expected to deliver a five-year business plan for the company to Hands imminently, which will be the basis of Terra Firma’s pleas for further investment, which requires the approval of 75% of investors.

Posted via email from WaTunes

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Entry filed under: Uncategorized.

WaTunes: EMI May Need A Lot More More $’s To Keep Going WaTunes CEO Kevin Rivers Featured in Music Week Printed Magazine!

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