Australian-based beer company Carlton and United Breweries is being bought by Japanese beverage giant Asahi for $16 billion.
Melbourne-based Carlton is the brewery behind major brands Victoria Bitter, Carlton and Great Northern.
The deal caps off a multitude of acquisitions which ultimately saw Belgian brewery giant Anheuser-Busch InBev own Carlton in 2016.
In 2004, Carlton was bought by Foster’s, which was later acquired by SABMIller, and which in turn was bought by Anheuser-Busch InBev.
The company in a statement on Friday said it would use the $16 billion to pay down debts.
The transaction is expected to close by the first quarter of 2020.
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