Jay-Z on Teaming Up With Moet on His Luxury Champagne Brand

Jay-Z making big business deals...check out the video.

"Moet Hennessy announced Monday that it will be acquiring a 50% stake in luxury champagne brand Armand de Brignac, also known as the Ace of Spades. The brand was popularized by Grammy-winning artist and businessman Jay-Z, who will retain a 50% ownership stake alongside Moet. Jay-Z joined "Squawk Box" on Monday with Philippe Schaus, CEO of LVMH's wines and spirits arm Moet Hennessy, to discuss the deal."

For more on this story: CNBC

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