Universal Music Group to acquire a majority stake in Mavin Global from TPG Growth.

Universal Music Group, a music-based entertainment firm, agreed to acquire a majority stake in Mavin Global, an independent record label, from TPG Growth, a private equity firm. Financial terms were not disclosed. The Lagos, Nigeria-based label is the driving force behind many of the continent’s Afrobeats artists. Founded in 2012 by renowned artist, producer, music executive and entrepreneur, Michael Collins Ajereh (aka Don Jazzy), Mavin has played a pioneering role in breaking Afrobeats artists within Africa, and beyond.