Terra Firma granted re-trial against Citi over EMI sale
Terra Firma has been granted a re-trial against Citigroup over its acquisition of EMI in 2007.
The private equity firm claimed in 2009 that a Citigroup banker David Wormsley had fraudulently caused an inflated bid from Terra Firma by suggesting that another bidder was still posing competition for the record label, when in fact they had already dropped out.
Terra Firma ended up acquiring EMI for £4 billion but went on to claim it had been “duped” by Citi, ...
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