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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.