$8B global beer deal: Japan's Asahi buys 5 Eastern Europe brands

Japanese brewer the Asahi Group announced plans Tuesday to buy five beer brands in Eastern Europe from Anheuser-Busch InBev for $7.8 billion.

The brands, in the Czech Republic, Slovak Republic, Poland, Hungary and Romania, were owned by SABMiller before its recent acquisition by Belgium-based AB InBev, the maker of brands including Budweiser and Corona.

They include Pilsner Urquell, which has the top market share in the Czech Republic — the highest per capita beer drinking country in the world  — Asahi, which is seeking approval from regulators, said in statement.

In October, Asahi announced it was buying SABMiller beer brands in Western Europe such as Peroni and Grolsch. It said the latest deal helps widen its reach across the region.

The acquisition, which Asahi aims to complete by December 2017, must be approved by European Union anti-trust regulators. Asahi shares ended 4.6% lower in Tokyo on Tuesday.

Japanese firms have been aggressively expanding overseas as their home market shrinks.

Contributing: The Associated Press