Meantime Ales
Japan-based Asahi is set to acquire the Meantime, Grolsch and Peroni brands from AB InBevMeantime

Drinks giant Anheuser-Busch InBev SA (AB InBev), which is in the process of acquiring rival SABMiller, has accepted a bid from Japan-based Asahi Group for a number of SABMiller's European premium beers.

In February, Asahi revealed it had opened exclusive negotiations to secure the Italian Peroni, Dutch Grolsch and English Meantime brands and their related businesses for around €2.55bn (£2bn, $2.9bn), as it seeks to offset sluggish growth in Japan.

However, the Belgian-American group said the offer remained conditional to its $100bn takeover of SABMiller, which was agreed late last year but remains subject to regulatory approval, being finalised.

"[The deal ] is conditional on the successful closing of the recommended acquisition of SABMiller by AB InBev as announced on 11 November 2015, which itself contains certain regulatory pre-conditions and conditions, and the approval by the European Commission of Asahi as a purchaser of the business," AB InBev said in a statement.

The merger between AB InBev and SAB Miller, currently the world's biggest and second biggest brewer respectively, will create the biggest beer company in the world, with a market capitalisation of approximately $288bn.

If completed, the deal will be Asahi's biggest ever acquisition and the largest deal in the beverage industry concluded by a Japanese firm since Suntory completed the $16bn takeover of US spirits producer Beam back in 2014.