Universal Music acquires Sanctuary in reach for faster growth

By Lucy Killgren and Andrew Edgecliffe-Johnson

Published: June 16 2007 03:00 | Last updated: June 16 2007 03:00

Sanctuary Group, the troubled music company whose roster stretches from Dolly Parton to James Blunt, has agreed a 20p-a-share sale to Universal Music, less than 18 months after its former management raised £110m in a rescue refinancing at 50p per share.

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Copyright The Financial Times Limited 2007