The planned initial public offering of HMV Media, the UK retailer, could make EMI, the record company, and Advent International, the private equity firm, about £200m (€326m).

EMI and Advent formed the joint venture on HMV in March 1998, when the two invested £800m. EMI holds 43.7% of the firm, and Advent has 40.4%. HMV is expected to be worth about £1bn as of its IPO next month.