Asahi is set to add Pilsner Urquell to its stable of European beer brands after reaching an agreement to buy the AB InBev (ABI) Eastern European brewing businesses previously owned by SABMiller.

Asahi announced this morning that it has prevailed in the auction process for AB InBev’s businesses in the Czech Republic, Slovak Republic, Poland, Hungary and Romania.

The deal will be worth €7.3bn ($7.7bn, £6.1bn) and includes brands such as Pilsner Urquell, Tyskie and Kozel.

Asahi were reported to be competing for the assets with China Resources, which bought SABMiller’s stake in Chinese brewer China Resources Snow and four from private equity players KKR, PPF, Jacobs, and Bain/Advent.

ABI decided to shed SABMiller’s Eastern European beer businesses as part of its £79bn mega-deal to acquire the UK-listed brewer.

ABI had previously sold off a number of SABMiller’s former interests as part of the regulatory approval process for the deal, including selling Grolsch, Peroni and Meantime in the UK, Italy and the Netherlands to Asahi for around $2.5bn in April.

Asahi said this deal fits under its new long-term vision to “to be an industry leader focused on sustained corporate value enhancement and, internationally, to establish a distinct position as a global player that leverages its strengths originating in Japan.”

“Through this acquisition, together with Super Dry, Peroni and Grolsch, Asahi aims to establish a unique position as a global player, mainly focusing on a leading premium brand portfolio to achieve sustainable growth.”

The deal consists of eight companies with net sales of €1.64bn in the year to March 2016 and total assets of €1.98bn.

In the last financial year the businesses’ combined EBITDA was €493.8m, down from €513.7m in the year to March 2015.

Asahi said the deal will complete in the fiscal year ending December 2017, subject to EU approval.

It said it will make a disclosure on the impact for the fiscal year ending December 2017 once the details are finalised.

The deal excludes the rights to Pilsner Urquell, Tyskie and Lech in the US and Puerto Rico, Miller brands in the five Eastern European countries and Redd’s brand, except in these five countries.

An analysis by The Grocer of the merged ABI/SABMiller position in the UK premium beer market highlighted the seven brands the combined brewer would own in that space. All three of these brands previously owned by SABMiller have subsequently been sold off.

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