Jay Z’s $56 million offer to acquire a Swedish streaming company has been approved, Billboard reports. 

Aspiro, the company which houses WiMp and Tidal, gave the green light to Hov’s latest business deal after reports that minority shareholders would reject the deal. 

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The deal has not yet been officially confirmed. "We as a board tried to be as transparent as possible towards minority shareholders so that they could make the best possible assessment of the bid," said Frederik Bjorland, who leads the independent board. “If the shareholders make the same assessment as us and therefore choose to accept the bid, we are of course delighted.”

Jay made the bid through his company Project Panthre Bidco Ltd., a subsidiary of Sean Carter Enterprises.

WiMp and Tidal are billed as rivals to popular streaming services like Spotify. 

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(Photo: Kevin Mazur/WireImage)