Jay-Z Reportedly In Talks To Sell Stake In D’Usse
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Jay-Z is reportedly looking to sell his stake in D’Usse to Bacardi. According to TMZ Hip Hop, the 52-year-old rapper exercised his right to a buyout a year ago under his company SC Liquor. Bacardi now has to “negotiate in good faith” and decide on a price. The process could be complicated as the “Song Cry” rapper wants to ensure his fair cut.
The outlet reported Bacardi’s subsidiary, Empire Investments Inc., is trying to “stall and stonewall” as a deal has not been agreed upon.
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The Grammy Award-winning artist called the price initially offered by Bacardi “well below” the value of the D’Usse brand.
This move comes after Jay-Z filed a lawsuit against Bacardi, announced earlier this week. The Hip-Hop icon claimed there is a lack of financial transparency in their D’Usse partnership. In the lawsuit, Hov is requesting access to all of Bacardi’s books and records, locations of all D’Usse warehouses, barrel storages, bottles, accessories, and more.
The Blueprint musician also demands the rum company release information regarding Bacardi’s on-hand physical inventory and inventory procedures.
How Jay Z Helped Infuse D'USSE Into His Hip-Hop Empire
Jay-Z introduced D’Usse to liquor shelves and bar carts in 2012. Since taking co-ownership with Bacardi, the Brooklyn native has pushed the cognac in his chart-topping lyrics and luxury lifestyle.
For his 50th birthday in 2019, the once-retired rapper gifted 50 of his closest friends and family a limited edition bottle of D’USSÉ 1969 Anniversaire. Fans were able to purchase the high-end spirit during the 2020 holiday season.
