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Asahi buys AB InBev's £9bn Australian business

Miller and Budweiser beer
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Japanese beer maker Asahi, which also owns London Pride, has sealed a deal to buy the Australian business of Budweiser-maker Anheuser-Busch InBev, worth $11.3bn (£9bn).

The subsidiary makes Foster's larger and accounts for roughly half of Australia's beer market, according to Bloomberg.

AB InBev said it was still interested in reviving the stalled flotation of its Asian business, which was expected to be the biggest stock sale of the year.