Jay-Z and his SC Liquor company offered Bacardi $1.5 billion to face rejection. Reports show Jay-Z offered to buy out Bacardi's 50% share in D'USSE. The spirits giant did not only reject the $1.5 billion offer, they also valued D'USSE much lower at $460 million compared to the December 2021 numbers valued at $2.5 billion.
JP Morgan was bought in to conduct an appraisal of the cognac brand. The financial forecast submitted caused a dispute in itself with Jay-Z accusing Bacardi of mismanaging D'USSE's financials on purpose to under value the brand.
Photo: Getty Images
In October Jay-Z filed a lawsuit against Bacardi. SC Liquor has been granted and emergency against Empire Investments Inc. The hearing is scheduled to take place early December.
Photo: Getty Images