Jay-Z claims Bacardi REJECTED $1.5BILLION buy out offer for his cognac brand ... trends now
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
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
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
Jay-Z, via his company SC Liquor, sought to exercise a
