Jay Z has sold a 50% stake in his Armand de Brignac Champagne brand to Moët Hennessy, 'reflecting a shared vision' for the future of the brand.

The American rapper commented 'We are confident that the sheer power of the Moët Hennessy global distribution framework, its unparalleled portfolio strength and its long-established track record of excellence in developing luxury brands will give Armand de Brignac the commercial power it needs to grow and flourish even further'.