Jay-Z 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, 52, 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: Jay-Z (seen in October 2021) is looking to sell a share of the upscale cognac brand D'Ussé, and is saying that Bacardi is trying to lowball him on the sale total in new legal docs 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 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.
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