Japanese beer-maker Asahi has appointed magic circle firm Allen & Overy to advise on its planned €2.6bn acquisition of stalwart European beer brands Grolsch and Peroni.
Japanese brewer Asahi is hoping to pick up European beer brands Peroni and Grolsch.
Asahi is hoping to scoop up Italian label Peroni and Dutch beer brand Grolsch in a near €2.6bn deal with current owner SAB Miller. In November, multinational brewer SAB Miller announced plans for a staggering £71bn merger with global beverage giant Anheuser-Busch InBev. Now, sources close to the deal report that the pair are looking to offload Peroni and Grolsch in order to solve regulatory concerns surrounding the proposed tie-up. The merger of SAB Miller and AB InBev, on which Freshfields and Linklaters are advising, would create a £275bn company and rank as one of the largest corporate transactions in history. Asahi’s binding offer for the two European brands is conditional upon the completion of AB InBev’s bid for SAB Miller.
Asahi has announced that magic circle firm Allen & Overy will advise the Japanese brewer on its bid to purchase Grolsch and Peroni. Slaughter and May has previously acted on behalf of Asahi, advising on its acquisition of AB InBev’s 20 per cent stake in Chinese brewery Tsingtao back in 2009. A&O is also advising the group of banks that are funding a £75bn loan to AB InBev to help finance its tie-up with SAB Miller. Meanwhile, Hogan Lovells is representing SAB Miller in the divestment of the European brand pair, while Freshfields will advise AB InBev