Diageo and Jose Cuervo discussing an asset swap

Diageo PLC and Jose Cuervo are in talks about a deal in which Diageo would acquire the 50% of Don Julio tequila that it doesn't already own plus a cash payment. In return, Cuervo would receive Diageo's Bushmills whiskey brand,

the

Wall Street Journal

reported.

Two years ago, Diageo tried unsuccessfully to buy Jose Cuervo outright, the report noted. Cuervo is owned by Mexico's Beckmann family. The two companies terminated a longtime distribution agreement last year, the article said. (Source:


Wall Street Journal


, Nov. 3, 2014.)