Jay-Z reportedly made Bacardi an offer they could refuse in 2021.
According to TMZ, the Hip-Hop billionaire offered the company $1.5 billionaire to have full ownership of D’Usse.
“According to docs, Jay’s company, SC Liquor, exercised its right to a buyout about a year ago. Under their agreement, Bacardi now has to ‘negotiate in good faith to come up with a fair price for Jay’s stake in D’Ussé,” TMZ reports.
An offer of $1.5 billion was reportedly made in December 2021: At this time, both parties’ valuation for Jay-Z’s stake allegedly presented a sharp contrast.
The outlet claims Bacardi estimates Jay-Z’s share to be worth $460 million, but the billionaire claims it’s worth substantially more.
According to court documents claimed to be seen by TMZ, Jay-Z says Bacardi influenced a third party’s decision when they were hired to appraise the brand.
The exact valuation from the appraiser is unknown.
The rapper is also said to be requesting the court to change the outcome of arbitration between the involved parties when the sale was decided upon.
A statement provided to TMZ implies Bacardi stands firm in its valuation.
A court hearing: TMZ reports a hearing is set for Thursday, Dec. 2 in NYC.