Wednesday, December 07, 2022

Bacardi Rejects Jay Z's $1 Billion Offer


Last month Jay Z filed a lawsuit against Bacardi to get out of his D'Usse liquor deal [click here if you missed that]. 

Apparently Jay tried to buy the brand outright for $1 billion but Bacardi refused...

From TMZ
Jay's in a legal war with Bacardi, trying to force the company to buy him out of their 50/50 partnership in the luxury cognac brand. But, according to new docs, 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!
According to the docs, Jay went back to the drawing board and then in December he offered to buy out his partner for the $1.5 bil ... which, keep in mind, would still 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.
In the docs, Jay 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.
We say that because Jay's now asking the court to modify the result of an arbitration both parties went through to settle the sale. As we've reported, Jay-Z is ready and willing to part ways with D'Usse ... he simply doesn't want to get cheated on the price.
There's a hearing set for Thursday afternoon in NYC to address the matter.

12 comments:

Anonymous said...

Bacardi didn't want to sell their company. I don't see anything wrong with that. Everything and everyone isn't for sale.

Ella M Nopea said...

Agree 10.05 just because they didn't want to sell out like you new negros doesn't mean they're worth more or less. As soon as these new kneegrows get a little something they're selling it to the highest white bidder. How long before Puff sells Revolt? Even Oprah sold OWN to Discovery.

Anonymous said...

I am gonna mind my broke azz business. Lol

The King Of The Real said...

I dont know what is going on. Hope it works out

Unknown said...

I don't understand why there's such a huge discrepancy between the appraisals? Jay thinks his half is worth 2.5 billion? But Bacardi claims it's less than $500 million? It's hard to gauge who's playing who, cause Jay has a proven track record of being a fraudulent business man who overly inflates his worth and his successes. Whereas on the other hand, Bacardi (yt owned business) could be trying to get over on a black nucca who they think they can play...it's to call it. But knowing Jay, I'm sure we'll be hearing about how/why we need to "boycott Bacardi" cause they don't like black ppl blah blah blah...it's like black men never vary from the script. Anytime they can't get over on yt or non-black businesses, they immediately try to get black ppl all emotional about racism this, or racism that...meanwhile, this is the same nucca who said his presence is a gift...to black ppl. Lol smh.

Anonymous said...

They don't have to sell to no one, if they don't want to.
Bacardi use to be made off an Iland in P Rico. They did tours of the facility.
Jay is learning how to be a businessman from rapper/street thug. Give him a break as he goes through his process. He's not hurting my pockets. Is he hurting yours?

Unknown said...

@12:31
Jay has been in corporate spaces for over 20 years ago. He was bragging about selling roc a fella for $200 million, and later claimed to own Barclays in Brooklyn. Point is, he's been in the business long enough to network with the right ppl to have his businesses in order. To have a situation like this, after 20+years is embarrassing. No, he's not hurting my pockets, but the minute he can't get what he wants the legal way, he'll jump on a popular artists track and rant about his Bacardi is racist, which *does* affect me and millions of other black ppl. The problem I have with Jay (and Deion Sanders) is that they constantly use black ppl - our culture - to push their own agendas for yt proximity - and when things go south they cry racism. I'm sick of it. We need to be more protective of our culture, the way that Jay is protective of his brand.

Anonymous said...

^ you know it's not the same for us as it is for Yt's. 20ty yrs is no time to gain the kind of financial wealth like Yt's have and they dont' let us in like they let do other Yt's. Jay has no college education. Most of the problem is racism.

Unknown said...

^^^
Jay was in his late 20s when he came into the industry. That's on top of selling drugs for 10+years. Why do black ppl make so many d@mn excuses for black men? 50cent has been in the game for half the time that Jay has, and accumulated his wealth in half the time that it took Jay. Point is, Jay is not a good business man. There are plenty of black men who didn't have half the resources or connections as Jay and made substantial gains in half the time. Let's call a spade a spade.

Anonymous said...

^ Well we can say he didn't make good choices. That's part of the learning process too. What helped 50ty was his acting skills and that propelled his interest in producing shows.

Anonymous said...

Don't believe this for one second! Lie!!

Anonymous said...

lol @ the "he's still learning" narrative. If this was a black woman or a regular person there would be no grace given.

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