Company Overview of Tequila Cuervo La Rojeña, S.A. de C.V.

Diageo plc is close to acquiring Tequila Cuervo, S.A. de C.V. from Beckmann family for expected price of about $3 billion. The deal is likely to be partly paid in shares. Barclays Capital acted as advisor to Beckmanns and Goldman Sachs and HSBC acted as advisor to Diageo. According to Sunday Times, Diageo declined to comment. Shares of Diageo closed at £16.86 on August 17, 2012.

Diageo plc is close to winning the control of Tequila Cuervo, S.A. de C.V. in a deal valued at about £2 billion. The Beckmann family, which owns the brand that is selling a majority stake in Cuervo might sell a minority stake with an option for Diageo to acquire control later.

The Sunday Telegraph reported that Diageo Plc appointed Goldman Sachs Group Inc. and and HSBC Holdings Plc to act as advisor for the acquisition of controlling stake in Tequila Cuervo, S.A. de C.V. Goldman Sachs will help to negotiate the terms of the potential bid. Discussions between Diageo and Beckmann family members may not lead to a deal because it's unclear whether all of the family members are committed to a process, people familiar with the plans said.