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Business deals

Asahi's CUB takeover approved by Australian regulator

Japanese brewer's $11bn acquisition nears completion

CUB owns popular brands in Australia, including Victoria Bitter. (Photo by Fumi Matsumoto)

SYDNEY/TOKYO -- Australia's competition regulator has approved Japanese brewer Asahi Group Holdings' $11 billion acquisition of Anheuser-Busch InBev's operations in the country.

The deal, struck last year, is part of an overseas expansion drive by Asahi and other Japanese brewers as they try to mitigate expected falling consumption at home.

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