In 2019, DLA Piper Africa, Nigeria (Olajide Oyewole LLP) advised Don Jazzy, Founder of Mavin Records and Management in the multimillion-dollar equity investment in Mavin music business by Kupanda MG Holdings LLC - the first ever VC led investment in music record label in Nigeria. Fast forward to 2023, we are pleased to once again play a pivotal role in the acquisition of Mavin Global Limited (Holdco) by Universal Music Group (UMG).

DLA Piper Africa, Nigeria (Olajide Oyewole LLP) acted as transaction counsel to Micheal Ajereh (aka Don Jazzy) and Tega Oghenejobo (“The Clients”), shareholders and key management of Holdco and MG Entertainment Nigeria Limited (Mavin Records). Mavin Records is home to Ayra Starr, Ladipoe, Johnny Drille, Rema, and other top artists and will continue under the outstanding leadership of its management team, thereby offering UMG the opportunity at a unique partnership to collaborate with an experienced and distinguished team in further elevating African music to a global stage.

Our Corporate M&A team provided strategic advice to the Clients on the dynamics and mechanics of the acquisition and equity rollover and negotiated transaction documents including key agreements for on-going partnership with UMG to achieve its acquisition objectives and continue the Mavin brand storied contribution to the growth of Afrobeats.  Under the deal, Mavin Global will retain its autonomy and creative independence while Don Jazzy (Founder and CEO) and Tega Oghenejobo (COO) will continue to lead the company, ensuring continuity and innovation.

Olajide Oyewole LLP transaction team was led by Samuel Salako (Partner) and Olufunke Fawehinmi (Legal Director) with additional support by Abimbola Ifederu (Senior Associate), Ezinne Ukwu (Associate), and Iyanuoluwa Andrew (Associate).

Commenting on the deal, Samuel Salako noted: “This deal is a significant milestone for the African music industry and underscores the immense talent emanating from the continent. This partnership will accelerate the Mavin label’s growth, expand its international reach, and provide unparalleled opportunities for artists to continue showcasing and celebrating the vibrancy of African music. Having been involved with Mavin from inception, we are immensely proud of its growth culminating in this landmark deal. Our Corporate M&A, and IP/Media Sports and Entertainment Teams appreciate the trust and confidence Don Jazzy and Tega has in our firm’s ability to represent them and deliver a deal that continues to put them at the forefront of nurturing talent, fostering creativity, and contributing to the global music landscape.”

We wish the entire Mavin family success on this exciting journey.