Don Jazzy Acquires Majority Stake in Mavin Global

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“Universal Music Group (UMG) has finalized the acquisition of a majority stake in Mavin Global (Mavin), a renowned music company headquartered in Lagos, Nigeria.

Founded in 2012 by Michael Collins Ajereh, widely known as Don Jazzy, Mavin Records has been instrumental in promoting Afrobeats artists globally. UMG’s strategic move follows Mavin’s significant multi-million dollar investment in 2019 from Kupanda Holdings, a joint venture between Kupanda Capital and TPG Growth.

As part of the acquisition, TPG Growth has divested entirely from Mavin, while Kupanda Capital retains a minority stake and advisory role. Under the terms of the agreement, Mavin will maintain its autonomy in shaping its strategic direction and nurturing talent. Don Jazzy, the founder and CEO, alongside COO Tega Oghenejobo, will continue to lead the company as it enters this new chapter with UMG.

The completion of the deal is subject to regulatory approval and is anticipated to be finalized by the end of Q3 2024.

Source: Nairametrics

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