Brewing giant AB InBev has agreed to sell European lager brands Peroni and Grolsch to Japan’s Asahi as part of its takeover of SAB Miller.
The terms of the deal were not disclosed but Asahi had previously offered €2.25bn ($2.5bn; £1.8bn).
The brands were put up for sale to allay competition concerns as a result of InBev’s purchase of SAB Miller.
The brands, which also include London’s Meantime brewery, were originally owned by SAB Miller.
“This transaction will be completed concurrently with and subject to the completing of AB InBev’s acquisition of SABMiller,” Asahi, which also owns the Super Dry brand, said in a statement. It added that it expected the deal to be completed in the second half of this year.
By selling the brands, AB Inbev had wanted to “proactively address” any potential regulatory issues in its takeover of SAB Miller, the largest takeover of a UK-based firm, as well as the fourth biggest in corporate history.
The Budweiser brewer is also selling SABMiller’s share in its US joint venture to partner Molson Coors.
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