TOKYO: Japan’s Asahi Group Holdings has offered $3.5 billion for two top European lager brands from British giant SABMiller, in what would be the biggest-ever overseas acquisition by a Japanese beer company, a report said on Wednesday.

Board members finalized the 400 billion yen proposal on Tuesday for Peroni of Italy and the Netherlands’ Grolsch, the leading Nikkei business daily said, without citing sources.

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