Jose Cuervo considers a $1 billion IPO

Jose Cuervo, the world’s biggest tequila producer, is seeking to raise as much as $1 billion in an initial public offering planned for the third quarter of this year, according to people with knowledge of the matter.

The company is working with units of Morgan Stanley, JPMorgan Chase and Banco Santander, two people said, asking not to be identified. Corporativo GBM is also involved, one of the people said.

Representatives for JPMorgan, Morgan Stanley and Banco Santander declined to comment. Corporativo GBM didn’t respond to a request for comment, nor did Cuervo, which is controlled by the billionaire Beckmann family and based in Mexico City.

Bloomberg News

This story was originally published May 31, 2016 at 2:49 PM with the headline "Jose Cuervo considers a $1 billion IPO."