A-B InBev agrees to $2.9 billion deal for European brands

Anheuser-Busch InBev has accepted a $2.9 billion offer from Japanese brewer Asahi Group Holdings to purchase the Peroni, Grolsch and Meantime beer brands. The deal is expected to help A-B InBev, the Belgian parent company of St. Louis-based Anheuser-Busch, clear another regulatory hurdle in its $108 billion acquisition of London-based SABMiller.

The purchase covers the three brands and their related businesses in Italy, the Netherlands, the U.K. and internationally. It hinges on the successful completion of the deal between A-B InBev, the world’s largest brewery, and SABMiller, the No. 2 global brewer.

The acquisition aims to appease European Union regulators, who are among many across the globe to have put blockades in the way of the deal between A-B InBev and SABMiller. Last week, A-B InBev agreed to protect South African jobs and create a fund to support the beer industry there to earn regulatory approval. The brewer also sold SABMiller’s 49 percent stake in China’s top brewer, Snow beer, to satisfy regulators.

Read more: Bloomberg


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