Japanese brewer Asahi and SABMiller are nearing on a deal for the sale of Peroni and Grolsch.
According to Japanese business newspaper Nikkei, Asahi offered 400bn yen (£2.39bn) to SABMiller following a board meeting on Tuesday. SABMiller has not confirmed it has agreed the deal.
Other bidders for the ownership of Peroni and Grolsch, two brands SABMiller is having to let go as part of its acquisition by AB InBev, include private equity firms from the USA (KKR) and Europe (PAI Partners and EQT), and Thai Beverage division Fraser and Neave.
If accepted by SABMiller, this would be the largest acquisition of an overseas brand by a Japanese beer company.
Asahi is known in the UK for its Asahi Super Dry and Asahi Black beers. The Asahi Group also owns Nikka whisky.