According to an SEC filing posted on November 14th, Sony has finally completed its $2.3bn acquisition of EMI Music Publishing. Sony Corp’s operation was given the green light by European regulators without any alteration on October 26.
The deal means that Sony is acquiring the final 60% of EMI, which becomes a wholly-owned subsidiary of Sony. Other companies wholly owned by Sony Corp include Sony/ATV Music Publishing – into which EMI Music Publishing is now expected to merge – plus Sony Music Entertainment.
Sony already owns 30% in EMI Music Publishing and is buying the final 10% from the Jackson Estate for $287.5m - the remaining 60% equity interest in EMP has been acquired from investor consortium led by Mubadala Investment Company for the equity purchase price of $2.3bn, based on an enterprise value of $4.75bn.
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