Terra Firma Hopes to Return Money to Investors

Private equity firm Terra Firma is hopeful that it will return all its investors' money despite losing $2.75 billion on music group EMI, Reuters reported, citing a letter from the firm’s chairman, Guy Hands. Terra Firma bought EMI in 2007 for 4 billion pounds, but lost control of the company to Citigroup after EMI defaulted on debt. Citigroup had backed the buyout with 2.6 billion pounds of loans.

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