The Universal Music Group purchased a majority stake in Nigerian record company Mavin Global, the iconic label founded by Don Jazzy that is home to Rema, Ayra Starr, Crayon and Ladipoe, among others. The deal is expected to be completed by the third quarter, pending regulatory approval, the companies announced. Terms of the deal were not disclosed. However, Billboard reported in October that Mavin was being shopped by Shot Tower Capital at a valuation north of $125 million, with a sale price in the region of $150 million to $200 million; it was unclear if publishing was involved in the deal. As part of the investment a
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