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Asahi to buy Pilsner Urquell from AB InBev Asahi to buy Pilsner Urquell from AB InBev
(35 minutes later)
Japanese brewer Asahi has agreed to buy five Eastern European beer brands in a deal worth €7.3bn (£6.1bn).Japanese brewer Asahi has agreed to buy five Eastern European beer brands in a deal worth €7.3bn (£6.1bn).
Anheuser-Busch InBev had agreed to sell the brands, which include Pilsner Urquell, Tyskie and Kozel, to help get clearance from competition regulators for its $100bn takeover of SABMiller.Anheuser-Busch InBev had agreed to sell the brands, which include Pilsner Urquell, Tyskie and Kozel, to help get clearance from competition regulators for its $100bn takeover of SABMiller.
It would be Asahi's biggest acquisition to date and its latest in Europe, its second largest market. It would be Asahi's biggest acquisition to date and its latest in Europe, which is its second largest market.
Earlier this year, Asahi bought Peroni and Grolsch from SABMiller.Earlier this year, Asahi bought Peroni and Grolsch from SABMiller.
Asahi said it was trying to establish itself as a global player, mainly focusing on a "leading premium brand portfolio". In a statement announcing its latest purchase, Asahi said it was trying to establish itself as a global player, mainly focusing on a "leading premium brand portfolio".
It said that the deal was likely to be completed in the first half 2017. Under the transaction, Asahi will buy businesses formerly owned by SABMiller in the Czech Republic, Poland, Hungary, Slovakia and Romania.
The deal also covers the Polish Lech and Hungarian Dreher brands, as well as intellectual property rights to sell certain brands around the world.
Asahi said the deal had synergies with its existing European brands and would enhance its "cash generating power" .
But shares in the brewer fell on the news, closing 4.6% lower in Tokyo.
The deal is subject to European Commission approval but is expected to be completed in the first half of 2017.