Bacardi Claims Jay-Z Backed Out of Deal to Sell D’Ussé, Tried to Double Price

Jay-Z wishes to offer his D’Ussé cake and consume it too … a minimum of according to Bacardi, his partners in the top-shelf alcohol, who now declare he’s attempting to double the brand name’s worth and make a package.

Bacardi’s subsidiary, Empire Investments, reacted to Jay’s claim, and in the docs it states both celebrations really had a “handshake deal” last December … in which Empire consented to purchase  Jay’s 50 percent stake in the cognac line.

But the business declares Jay “abruptly reneged on its agreement and doubled its demanded valuation.”

TMZ Hip Hop broke the story … Jay’s business, SC Liquor, worked out a choice in 2015 for Bacardi to purchase him out. They had actually been 50/50 partners in D’Ussé because its beginning in 2012. Bacardi does not disagree with that, however differs with Mr. Carter’s effort to “outrageously inflate” the rate … in their words.

In the brand-new docs, Empire/Bacardi does not state what, if any, rate they’d concurred upon when they made the handshake offer — much of the file is redacted as we’re thinking neither side desires any appraisal of D’Ussé to be revealed at this moment.

As we reported, Jay believes Bacardi is attempting to lowball him on the rate, which’s why he submitted the claim.

As for his need for his partners to open up the books … the business states it currently handed him more than 800 pages of monetary records, and states any more files he desires are not for his eyes, since they include Bacardi information … which they view as completely different from the D’ussé endeavor.