U.S. News

Terra Firma Seals EMI Takeover, Owns 90% of Shares


Private equity firm Terra Firma said Wednesday it has succeeded in its takeover of music company EMI Group, garnering the 90% of shares needed to let it force out minority shareholders.

Terra Firma Capital Partners said it had accumulated acceptances representing 90.27% of the company.

Britain's Competition Commission had set a Wednesday deadline to reach the 90% level, above which it is able to forcibly buy the remaining shares.