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Mubdala, Sony consortium nears $2.2bn EMI purchase

A Mubadala-backed consortium led by Sony has closed on a $2.2bn acquisition of British music company EMI music publishing operations from Citigroup, the Associated Press has reported. The closing comes after the US Federal Trade Commission cleared the deal morning. The deal was cleared by EU regulators in April, with some conditions. Universal Music Group has a pending deal to buy the rest of EMI.