Japanese brewer Asahi has tabled a 2.55 billion euro ($A4.08 billion) bid to buy European lager brands Peroni and Grolsch being put up for sale as part of the takeover of SABMiller.
Budweiser maker Anheuser-Busch InBev said it was now in exclusive talks with Asahi, which is known for its Super Dry beer, although it is yet to officially accept the offer.
The deal includes Peroni and Grolsch in the UK and Europe, as well as London's Meantime brewery, which are being put up for sale by AB InBev to help ease regulatory concerns over its STG71 billion ($A145.30 billion) takeover of SABMiller.
Carlos Brito, chief executive of AB InBev, said: "We are pleased to have received this binding offer from Asahi on the Peroni, Grolsch and Meantime brands and businesses - iconic beer brands with long-standing heritage and leading positions in core markets."
SABMiller's chief executive Alan Clark said: "SABMiller has grown Peroni and Grolsch into world-renowned premium brands, and we are confident that, along with fast-growing modern craft brewer Meantime, they will continue to thrive and develop."
AB InBev is launching a consultation with staff over the potential sale, although it is dependent on the completion of the SABMiller takeover.
Buying Peroni and Grolsch would allow Asahi to tap into growth outside a declining Japanese lager market, where it has a 38 per cent share.
Asahi said it had been looking to grow internationally "for some time".
"Through this proposed acquisition, Asahi aims to expand its growth platform in Europe and become a global player with a distinct position," it said.
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