JAY-Z agrees to a multi-billion-dollar deal with Bacardi surrounding the monetary worth of D’USSÉ, which comes after their heated lawsuit over the premium cognac.
According to Complex, the agreement saw Hov sell a majority stake in D’USSÉ.
“Growing D’USSÉ over the past decade from an idea to one of the fastest-selling spirits in history has been a blessing,” Jay-Z said in a statement. “The next phase of this journey will further cement D’USSÉ’s legacy as one of the world’s most respected brands. I am excited to renew this partnership with Bacardi.”
The Brooklyn-bred mogul previously made an offer of $1.5 billion to buy out Bacardi’s ownership stake which was ultimately turned down while valuing the company at a significantly lower $460 million.
Prior to the agreement, JAY-Z made the strategic move at the top of 2023 to relocate the lawsuit against Bacardi to Bermuda in the British Overseas Territory, where the Bacardi headquarters are located.
“SC is now preparing to bring litigation against Bacardi in Bermuda, where Bacardi is incorporated and headquartered (the ‘Bermuda Action’), for procuring a breach of D’USSÉ’s Operating Agreement under Bermudian law”, documents in the lawsuit read.
Hov opened up the lawsuit in October of 2022, centered around concerns over their financial transparency regarding their 50/50 D’USSÉ partnership.
The Roc Nation boss is riding high into the weekend where he’s set to also perform at the Grammy Awards at the Crypto.com Arena on Sunday evening February 5, 2023.
JAY-Z is expected to be joined by DJ Khaled to perform their latest hit “GOD DID”, Khaled’s newest edition to his long list of chart-topping hip-hop anthems.
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