Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
BRUSSELS (AP) — Japanese drinks group Asahi says it has reached an agreement with brewing giant Anheuser-Busch InBev to buy the Peroni, Grolsch and Meantime brands and related businesses, excluding certain U.S. rights.
Asahi Group Holdings Ltd. had made a binding offer in February of 2.55 billion euros (currently $2.88 billion) for the brands. AB InBev is looking to sell the brands to assuage antitrust concerns over its acquisition of rival SABMiller.
In a statement, Asahi said Tuesday the purchase is contingent on AB InBev completing the acquisition of SABMiller, to which the brands currently belong. That deal is scheduled to be completed in the second half of 2016.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
