Music mogul Jay-Z and a Bacardi Ltd. affiliate have resolved their dispute over their multibillion-dollar cognac joint venture, D’Usse, after months of contentious arbitration and litigation in multiple courts.
The settlement, announced in a press release Friday, calls for an affiliate of the liquor giant to buy out a majority of the rap star’s 50% stake in the cognac company, D’Usse LLC, leaving Bacardi owning at least 75.01% of the business.
Jay-Z, whose given name is Shawn Carter, will retain “a significant ownership stake” through his company SCLiquor LLC, according to the press release. He called the venture “a blessing” ...
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