Thursday, December 1, 2022

Bacardi Rejects Jay-Z's $1.5B Offer For Ownership Of D'Usse

 


Jay-Z in a legal battle with Bacardi, trying to force the company to buy him out of their 50/50 partnership in the luxury cognac line it was Jay who first tried to buy out Bacardi, back in December 2021. Here's what's weird, months before his offer Jay says he and Bacardi exchanged valuations of the brand. 


They were light years apart Jay felt his half of D'Usse was worth $2.5 billion, and Bacardi thought it was only worth a measly $460 million Jay-Z went back to the drawing board and then in December he offers to buy out his partner for the $1.5 bil which, keep in mind, would be 3 times what Bacardi said it was worth. Sweet deal, right? Apparently not to Bacardi, since it rejected the offer and that's why Jay-Z thinks there's something shady going on here. 


Jay-Z basically accuses Bacardi of unduly influencing a third party that was called in to appraise the brand. It's unclear what number the appraiser came up with, but it's a fair bet it's closer to Bacardi's value than Jay-Z's. Jay's now asking the court to modify the result of an arbitration both parties went through to settle the sale.



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