Seven years ago, Sony entered a complex deal with Abu Dhabi for control of the EMI Music Publishing catalog, a trove of more than two million songs that ranges from “Over the Rainbow” to hits from Beyoncé.

Now, Sony is buying out its partner in one of the biggest music deals in years.

Sony announced on Monday that it had signed a binding agreement to acquire the 60 percent stake of EMI owned by a consortium led by the Mubadala Investment Company, a sovereign wealth fund of the government of Abu Dhabi, for about $2.3 billion. The deal will give Sony about 90 percent of the equity in the EMI catalog, with the remainder owned by the estate of Michael Jackson.

Altogether, the deal values EMI at $4.75 billion — more than double its price in 2011, when Sony, Mubadala and a handful of other investors bought it for $2.2 billion. It is the latest and splashiest deal to reflect a music business that has been revitalized by streaming.

“I believe this acquisition will be a particularly significant milestone for our long-term growth,” Kenichiro Yoshida, the new chief executive of the Sony Corporation, said in a statement.