The Brooklyn rapper hopes to expand his 40/40 restaurant and nightclub franchise, launching a new charity-driven business model, which he plans to unveil in Cole's native London.
According to reports, the rap mogul has signed a multi-million dollar deal to bring his 40/40 franchise to London by 2012, the first of several planned business ventures with Cole. "London is one of the most vibrant and exciting cities in the world and the perfect location for our new venue," Jay explained in a statement. "I'm excited about working with Ashley and NVA Entertainment Group on a range of new projects and The 40/40 London is going to be the hottest place in town."
Jay-Z and Cole are planning grand opening celebrations in New York City, Las Vegas and Atlantic City, N.J., as well as several other major domestic cities.
"I am delighted to be working with Jay-Z. I have grown up listening to his music and now to be doing business with him is amazing and the projects we do will be delivering much needed funds back into sport and music on a local community level as well as helping talented young people get back to work," Cole added.
Jay-Z currently has 40/40 locations in New York City and Atlantic City, and has signed a deal with Delaware North Companies to put 40/40 clubs into as many as 20 major U.S. airports.