Bacardi subsidiary Empire Investments has now bought out the majority of SCLiquor’s stake in D’Usse, leaving the spirits giant with 75.01 percent of the business.
Jay-Zs company SCLiquor and a subsidiary of Bacardi partnered to launch D’Usse Cognac in 2012 under a 50/50 equal ownership agreement.
Last October, SCLiquor sued Empire Investments for approximately $2.5 billion. SCLiquor sought internal files from D’Usse, managed by Empire Investments, to investigate “Empire’s failings by exercising its statutory and common law rights to demand information from D’Usse”.
SC has made repeated demands for D’Usse’s books and records, the most recent of which was served on 3 October 2022…
The litigation involved four cases in two courts and an arbitration proceeding, stemming from the rapper’s demand that the Bacardi subsidiray either exited the joint venture or buy out his 50 percent stake.
