Universal closes purchase of EMI record label for 1.4 billion euros

Universal Music Group closed the acquisition of EMI Recorded Music, which was under the control of Citigroup bank, for 1.4 billion euros.

With the acquisition, Universal, which belongs to the Vivendi group, intends to increase its worldwide participation, mainly in strong markets such as Germany, Japan and the United States.

“The company resulting from the operation will benefit both the artistic community and the cultural industry,” said Vivendi in a statement.


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