Asahi To Pay £2bn For Peroni And Grolsch

A Japanese brewing firm has agreed to pay £2bn for the Peroni and Grolsch lager brands.

They were put up for sale to ease regulatory worries over the planned £71bn takeover of their current owner, SABMiller (Xetra: BRW1.DE - news) , by Budweiser owner Anheuser-Busch InBev (AB InBev).

Asahi has been locked in talks over the purchase since first tabling a "binding" offer in February.

The deal - conditional on the AB InBev/SAB takeover going ahead - will mean the Japanese company also taking ownership of London's Meantime brewery alongside SAB's Italian, Dutch and British operations which make and distribute the brands.

It (Other OTC: ITGL - news) also includes the global rights to the Grolsch, Peroni and Meantime brands, except in the United States.

Greenwich-based Meantime was only bought by SAB a year ago.

The new brewing giant will still own big name brands such as Budweiser, Corona and Stella Artois and ciders such as Bulmers and Strongbow once the takeover is completed - expected later this year.

AB InBev chief executive Carlos Brito said at the time of Asahi's bid: "We are pleased to have received this binding offer from Asahi on the Peroni, Grolsch and Meantime brands and businesses - iconic beer brands with longstanding heritage and leading positions in core markets."

Asahi is Japan's biggest brewer with a 38% market share but is seeking growth outside Japan where a shrinking population and the increasing popularity of wine have weighed on beer sales over the past two decades (Other OTC: UBGXF - news) .