Diageo May Acquire Jose Cuervo for $3 Billion, Sunday Times Says

Diageo Plc (DGE) is close to agreeing on a deal to buy Jose Cuervo from Mexico’s Beckmann family for $3 billion, the Sunday Times reported, without saying where it got the information.

The deal may be announced as soon as Aug. 23 and will probably be funded at least in part with shares, the newspaper said. The sale may include separate agreements for the brand, the production facilities, and the land where the agave plant used in tequila is grown, it said.

Diageo spokeswoman Kirsty King declined to comment.

To contact the reporter on this story: Paul Dobson in London at pdobson2@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net

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