Speculation has mounted this week over a potential bid by Asahi Group Holdings, Ltd. for Grolsch and Peroni from SABMiller PLC. The story, which first appeared in Japanese newspaper Yomiuri Shimbun, claims that the business there is expected to make an offer for both beer brands next week.

It was reported that sources had told the newspaper that the Japanese food and beverage group is currently seeking to build a stronger presence within the global beer market. According to the newspaper, the offer could be for as high as 400 billion yen ($3.4 billion), which if accepted, would make it the biggest international purchases by a Japanese company in history.

Both Peroni and Grolsch are currently owned by beer and soft drink manufacturer, SABMiller, which agreed to a takeover offer from Anheuser-Busch InBev in November last year. According to Reuters, AB InBev – the world’s largest brewer – has been seeking potential bidders for the Italian and Dutch beers since the agreement was made. Reuters said that AB InBev is concerned about regulatory scrutiny in Europe, where it already owns Corona and Stella Artois.

Yomiuri Shimbun stated that large foreign beer manufacturers and investment funds are also expected to try to purchase the brands. AB InBev however declined to comment when asked by drinks bulletin if it had been approached by any other potential bidders.

It is still unknown as to what a potential acquisition would mean for both Asahi Premium Beverages and Carlton & United Breweries in Australia, who both declined to comment on the speculation. If Asahi Group Holdings was successful in its bid, CUB, which owns Peroni and Grolsch in Australia, could lose the brands to the Japanese business.

drinks bulletin expects that a number of other important beer brands will soon become part of speculation as AB InBev continues to pursue the completion of its takeover of SABMiller. But for now business remains as usual in Australia.

According to sources, indicative offers are due in mid-January. Watch this story continue to unfold on drinks bulletin.