With last week's approval of the Universal Music Group-EMI deal, Citigroup formally announced today "the successful completion of the sale of EMI Group's recorded music division, EMI Music, to Vivendi and its subsidiary, Universal Music Group."

Citi noted that it got total consideration of 1.2 billion pounds for EMI Music, which operates around the world and represents artists spanning all musical tastes and genres through record labels including Angel, Astralwerks, Blue Note, Capitol, Capitol Latin, Capitol Records Nashville, EMI Classics, EMI CMG, EMI Records, EMI Records Nashville, Manhattan, Parlophone, Virgin Classics and Virgin Records.

Stephen Volk, chairman of the Board of EMI Group Global Ltd. and vice chairman of Citigroup, said, "We are grateful to Roger Faxon, his management team and the EMI staff for the remarkable success of this business during Citi's ownership."