Jay-Z claims Bacardi REJECTED $1.5BILLION buy out offer for his cognac brand D’Usse

Jay-Z claims Bacardi REJECTED $1.5BILLION buy out offer for his cognac brand D’Usse as he continues legal war with alcohol giant

  • Jay-Z was willing to spend $1.5billion to buy full ownership of D’Usse but was rejected by Bacardi  
  • They exchanged valuations; Jay felt his half of D’Usse was worth $2.5billion while Bacardi thought it was only worth $460million
  • Jay went back to offer to buy out the company for three times Bacardi’s valuation but they rejected it leaving the 99 Problems rapper to have suspicions 
  • The mogul recently filed a lawsuit against the major spirits company as he wants to know how much his alcohol line is making as they are 50/50 partners
  • Jay-Z and Bacardi have had a partnership on D’Usse since 2012 

A month after saying that Bacardi is trying to underpay him, Jay-Z has claimed that the alcohol brand has rejected a massive $1.5billion buy out offer for his cognac brand D’Usse.

The 52-year-old mogul is currently in an ongoing legal war with the large, privately held spirits company based in Bermuda as he reportedly proposed a blockbuster settlement for his premium brand.

According to legal documents obtained by TMZ on Thursday, Jay-Z was willing to spend $1.5billion to buy full ownership of D’Usse but was rejected by Bacardi.

War: A month after saying that Bacardi is trying to underpay him , Jay-Z has claimed that the alcohol brand has rejected a massive $1.5billion buy out offer for his cognac brand D'Usse, the mogul is seen in New York back in August

War: A month after saying that Bacardi is trying to underpay him , Jay-Z has claimed that the alcohol brand has rejected a massive $1.5billion buy out offer for his cognac brand D’Usse, the mogul is seen in New York back in August

One very interesting note is that months before his offer according to the publication is that Jay claimed to have exchanged valuations of the company and they were very far apart as Jay felt his half of D’Usse was worth $2.5billion while Bacardi thought it was only worth $460million.

 Jay went back to offer to buy out the privately owned company for three times Bacardi’s valuation but they rejected it leaving the 99 Problems rapper to believe something suspicious was happening according to the site.

The father-of-three accused the private spirits giant of ‘unduly influencing a third party that was called in to appraise the brand’ according to the documents obtained by TMZ.

Wow: According to legal documents obtained by TMZ on Thursday, Jay-Z was willing to spend $1.5billion to buy full ownership of D'Usse but was rejected by Bacardi, a bottle of the cognac is pictured

Wow: According to legal documents obtained by TMZ on Thursday, Jay-Z was willing to spend $1.5billion to buy full ownership of D’Usse but was rejected by Bacardi, a bottle of the cognac is pictured 

The site reports though it remains unclear what the appraisal was, it is likely that it was closer to Bacardi’s value than Jay-Z’s as the rapper is asking the court to modify the result of an arbitration both parties went through to aid in the potential sale. 

This came a month after reports that the husband of Beyonce is looking to sell a share of the upscale cognac brand D’Ussé, and saying that Bacardi is trying to lowball him on the sale total.

The rapper has filed with the court a request to see Bacardi’s figures on its D’Ussé brand, TMZ reported after reviewing court docs in the case.

The partnership between the rapper and the liquor brand, which has been in place since 2012, is supposed to be set at 50 percent each.

Taking a stand: This came a month after reports that the husband of Beyonce (seen in August 2021) is looking to sell a share of the upscale cognac brand D'Ussé, and saying that Bacardi is trying to lowball him on the sale total

Taking a stand: This came a month after reports that the husband of Beyonce (seen in August 2021) is looking to sell a share of the upscale cognac brand D’Ussé, and saying that Bacardi is trying to lowball him on the sale total

Jay-Z, via his company SC Liquor, sought to exercise a buyout clause with Bacardi, which is contractually stipulated to ‘negotiate in good faith’ on the final total, his legal team said court docs.

Reps for Jay-Z’s company said that the corporation linked with Bacardi, Empire Investments Inc., has been stalling and stonewalling the rapper’s efforts to get accurate financial totals for D’Ussé.

Jay-Z said through his legal team that he feels Bacardi has intentionally mismanaged aspects of its business in an effort to hinder profits ahead of a potential buyout.

While both of the valuations are redacted in legal docs, TMZ reported, Jay-Z said Bacardi’s estimation was ‘well below’ a reasonable total.

Giant: The 52-year-old mogul has filed a lawsuit against Bacardi as he wants to know how much his alcohol line is making as they are 50/50 partners

Giant: The 52-year-old mogul has filed a lawsuit against Bacardi as he wants to know how much his alcohol line is making as they are 50/50 partners

The rapper is asking the court to force Bacardi to comprehensively reveal its finances in regards to the D’Ussé, as he wants ‘financial clarity’ regarding his top-shelf cognac brand D’Usse. 

TMZ Hip Hop obtained documents on Tuesday which show that his company SC liquor had demanded for financial clarity when it comes to D’Usse.

According to the site, Jay-Z’s company is requesting for all the financial books and records in addition to the location of all the warehouses storing barrels, bottles, and accessories for the cognac brand.

They also want all the pertinent information regarding Bacardi’s physical inventory as well as the inventory process. 

It does remain unclear why Jay-Z and partners are pushing this process forward but it is obvious there is distrust in the business partnership.

Serving it up: TMZ Hip Hop obtained documents on Tuesday which show that his company SC liquor had demanded for financial clarity when it comes to D'Usse

Serving it up: TMZ Hip Hop obtained documents on Tuesday which show that his company SC liquor had demanded for financial clarity when it comes to D’Usse

The ROC: According to the site, Jay-Z's company is requesting for all the financial books and records in addition to the location of all the warehouses storing barrels, bottles, and accessories for the cognac brand, he is pictured with wife Beyonce in June 2021

The ROC: According to the site, Jay-Z’s company is requesting for all the financial books and records in addition to the location of all the warehouses storing barrels, bottles, and accessories for the cognac brand, he is pictured with wife Beyonce in June 2021

TMZ notes that one of the statements in the legal documents is very interesting as it read that SC Liquor says that it needs to ‘monitor the conduct of [Bacardi’s] business to protect SC’s rights as’ a partner in the company.

Jay-Z and Bacardi have had a partnership on D’Usse since 2012.

He regularly name checks the brand in his songs and in 2014 even poured some of the cognac into one of his Grammys and drank it in order to promote it.

Shot: Jay-Z and Bacardi have had a partnership on D'Usse since 2011

Shot: Jay-Z and Bacardi have had a partnership on D’Usse since 2011

Meanwhile earlier this month the 99 Problems rapper was featured in outtakes from wife Beyonce’s Club Renaissance Paris celebration in partnership with Tiffany & Co. earlier this month.

The 41-year-old megastar stunned in a silver ensemble as she posed in an elevator with husband as she added a sporty oversize jacket.

The Break My Soul songstress wrote in the caption to her loyal legion of followers, ‘CLUB RENAISSANCE Paris with partner @tiffanyandco.’

She then added hashtags, ‘#TiffanyAndCo #CLUBRENAISSANCE.’ 

Going up: Meanwhile earlier this month the 99 Problems rapper was featured in outtakes from wife Beyonce's Club Renaissance Paris celebration in partnership with Tiffany & Co. earlier this month

Going up: Meanwhile earlier this month the 99 Problems rapper was featured in outtakes from wife Beyonce’s Club Renaissance Paris celebration in partnership with Tiffany & Co. earlier this month

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