15 November 2011
Clifford Chance advises Citigroup on the disposals of EMI's recorded music business and music publishing business for a combined $4.1bn value
Leading international law firm Clifford Chance announces it is lead legal advisor to Citigroup on the disposal of its interests in the EMI Group. The disposals are being made through two separate transactions both of which were announced on Friday 11 November.
EMI's recorded music business is being sold to Universal Music, owned by Vivendi, for £1.2bn ($1.9bn). Whilst, EMI's music publishing business is being sold to an investor group, including Sony Corporation of America and Mubadala Development Corporation, for $2.2bn.
Clifford Chance Global Head of Corporate, Matthew Layton, led the multi-disciplinary, multi-jurisdictional team with Corporate Partners Daniel Kossoff and Rob Crothers and senior associates Melissa Fogarty and Melanie Howard. Expertise was also drawn from Tony Reeves (Brussels, Antitrust), Dan Neidle, David Harkness, (London, Tax), Philip Wagman (New York, Tax), Hywel Robinson, Clare Hoxey (London, Pensions), Alistair Woodland (London, Employment) and Vanessa Marsland (London, IP), Roger Best and Simon James (London, Litigation) and Mark Pistilli, (Sydney, Competition).
Daniel Kossoff led the team that advised Citigroup on the acquisition of EMI from the administrator in February 2011.