Exclusive - Mexico's Jose Cuervo delays IPO until after U.S. election: sources

MEXICO CITY (Reuters) - Mexico's Jose Cuervo, the world's biggest tequila producer, has delayed its planned initial public offering and will wait until after the U.S. presidential election before going ahead, three people familiar with the matter said on Wednesday.

The company, known officially as Becle, announced the IPO in a filing last week, but without saying when it would take place.

Speaking on condition of anonymity, the three people said concern about market volatility meant that Cuervo had decided to postpone the listing, which they said was scheduled for this month.

Jose Cuervo was not immediately available for comment.

A person familiar with the matter suggested last week the company could seek to raise between $500 million and $1 billion.

 

(Reporting by Roberto Aguilar)