Bacardi Claps Back: Says JAY-Z Reneged on Deal to Self His Stake in D’USSE
72
Bacardi is firing back at JAY-Z, stating he did shady business and is now attempting to raise the D’USSE’s value.
According to TMZ, Bacardi’s subsidiary, Empire investments, states Hov agreed with the company in a “handshake deal” to purchase Hov’s 50 percent stake in the D’USSE brand.
After the agreement, Jay is said to have “abruptly reneged on its agreement and doubled its demanded valuation.”
Last month, the Hip-Hop mogul and his company, SC Liquor, attempted to pull the financial records of his 50/50 partnership with Bacardi over D’Usse.
According to TMZ, the partnership between Hov and Bacardi launched in 2011, and now Hov is looking to receive all books, records, and warehouses storing D’Usse barrels, bottles, and accessories. Hov also wants details of the physical inventory and the process.
The suit reads that Hov’s company wants to “monitor the conduct of [Bacardi’s] business to protect SC’s rights as” a partner.
A hearing on the matter will occur Friday in New York.
