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Citigroup paid on both sides of EMI deal

first_img KCS-content Tuesday 7 September 2010 11:30 pm Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof whatsapp Show Comments ▼ CITIGROUP investment bankers boasted of getting paid on both sides of a deal after the private equity group Terra Firma made a £4.2bn bid for the music group EMI, according to court documents listed in New York yesterday.According to a filing from Guy Hands’ Terra Firma, which alleges that it was advised by Citi to pay more than it needed to win ownership of EMI, one of Citi’s bankers said: “Please make sure that….David Wormsley and me get revenue credit for Terra Firma buyside financing as well as EMI sellside M&A.”Banker Matthew Smith, went on to write in response to congratulatory messages from colleagues: “We got paid on both sides of the deal!”Terra Firma is suing Citigroup for allegedly giving it bad advice during its bid for EMI which has since turned out disastrously.A Citigroup statement said last night: “The evidence in this case is overwhelming that Citi has done nothing wrong, and we firmly believe that Citi will prevail” in this case.”In its filing to the courts, Citigroup said EMI authorised the bank to provide financing to potential bidders including Terra Firma. Citigroup is trying to have the action struck out. whatsappcenter_img Citigroup paid on both sides of EMI deal by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Share Tags: NULLlast_img

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