Universal Music group announces acquisition of major stake in Don Jazzy’s Mavin Global

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Universal Music group (UMG) has announced that it has acquired a major stake in Mavin Global owned by Michael Ajereh popularly known as Don Jazzy.
The announcement was made known in a press statement issued on Monday by Universal Music group which described Mavin Global as one of the world’s most dynamic and exciting independent record labels.
“Universal Music Group (UMG), the world leader in music-based entertainment, today announced a majority investment in one of the world’s most dynamic and exciting independent record labels, Mavin Global (Mavin). The deal remains subject to regulatory approval and is expected to close by the end of Q3 2024,” the press release reads.
While shedding more light on the development, Sir Lucian Grainge, Chairman & CEO of Universal Music Group, listed the criteria for selcting Mavin Global as a partner.
He said; “Our criteria for identifying partners is straightforward: great artists, great entrepreneurs, great people. With Don Jazzy, Tega, the Mavin Global team, and their artist roster, we’ve found ideal partners with whom to grow together. Mavin’s brilliant artists have been catalysts in the transformation of Afrobeats into a global phenomenon and we’re thrilled to welcome them into the Universal Music Group family.”
Speaking on the acquisition Don Jazzy said: “ I’m proud of the artists, careers, and brand we’ve built that have made Mavin the force it is today. In this historic partnership with UMG, we will continue that mission in Africa and across the globe.”

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