AB InBev set to sell Peroni & Grolsch to Asahi

Global brewing company, AB InBev has agreed to sell European lager brands Peroni and Grolsch to Japan's largest brewer, Asahi as part of its takeover of SABMiller.

The terms of the deal were not disclosed, however Asahi had previously offered £1.8bn.

AB InBev was put up for sale to allay competition concerns as a result of AB InBev's purchase of SABMiller. The brands, which also include London's Meantime brewery, were originally owned by SABMiller.

SAB only acquired Meantime last year, as part of an attempt to reap the benefits of the growing craft beer market in the UK.