After raising enough investment to avoid the beleaguered label defaulting on its loans, the private equity tycoon Guy Hands has won the battle to keep control of EMI Music. It includes artists Kylie Minogue and Robbie Williams.

A frantic week of negotiating with the label's investors ended up with Mr. Hands confirming to meet the "equity cure" for EMI of about £105 million. The company Terra Firma, headed by Mr. Hands, has to pay the U. S. bank Citigroup, which has provided a loan of £3.2bn, by 14 June.

To prevent the label from falling into the bank's hands and possibly being broken up and sold off, EMI needed an equity cure of £105m. Even though the label's debt and equity sits in the parent company, Maltby Investments, it is yet, owned by Terra Firma.

Just when EMI's business plan proved crucial to bring the potential investors on board, the Executive Chairman of EMI Music, Charles Allen was seen delighted. "We are very pleased to have received this confirmation of an additional investment," he said. Also adding, "a vote of confidence in EMI from Terra Firma and its investors, following the significant improvement in the company's operating performance".

These plans comprise of the potential sell-off of the Japanese operation and its Christian music arm. When the company failed to agree terms and a potential licensing deal with two rivals collapsed, it was then that the company felt a need to turn to investors.

To cover loans due to mature in 2015, Terra Firma is likely to need more funds, estimated to be £255 million. Thus, this wouldn't be the end of the shareholder support for EMI.