Jay Z And Bacardi Comes To A Agreement After Months Of Litigation Over Cognac Venture D’Usse

Source: The Digilouge and Bloomberg Legal

After months of arbitration and litigation in multiple courts, a settlement has been reached between Jay-Z and a Bacardi Ltd – an affiliate of the liquor giant will buy out a majority of HOV’s 50% stake in the cognac company, D’Usse LLC, leaving Bacardi owning at the least 75.01% of the business.

Jigga will retain “a significant ownership stake” through his company SCLiquor, LLC.

The agreement resolves his demand for a buyout over concerns that Bacardi subsidiary Empire Investments Inc.—which oversees the cognac’s day-to-day operations—which made Jay Z fear that the brand might be failing to prepare for a surge in consumer demand tied to its rapid growth.