Tuesday, May 31, 2016

Jose Cuervo is planning a $1 billion IPO

Akin Oyedele
Business Insider
Jose Cuervo is thinking about going public.
According to Bloomberg, the world's largest tequila producer wants to raise as much as $1 billion in an initial public offering slated for the third quarter.
Like the US, Mexico hasn't seen much IPO action this year.
Citing people familiar with the matter, Bloomberg reported that Morgan Stanley, JP Morgan and Spain-based Banco Santander are working with the company as it preps to go public.

Jose Cuervo's revenues spiked 41% to 10.25 billion pesos ($557 million) in the first quarter of 2016 compared to last year.

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