Anheuser-Busch InBev NV said it has received a binding offer valued at about $2.9 billion in cash from Japan’s Asahi Group Holdings Ltd. for the Peroni and Grolsch brands.

The company said it had entered an exclusive negotiation period with Asahi, which will be able to review the brands and businesses ahead of a potential sale by the Belgian brewer. A deal would be contingent upon AB InBev closing its roughly $108 billion acquisition of SABMiller.

The sale of Peroni and Grolsch, which are owned by SABMiller PLC, is designed to help AB InBev secure European regulatory approval for its SABMiller acquisition. It aims to complete the deal in the second half of this year.

The deal, which also would include British craft brewer Meantime and Miller Brands U.K., would be Asahi’s biggest overseas acquisition and largest acquisition in Japan’s beverage and liquor industry since Suntory Holdings Ltd. bought Beam Inc., owner of Jim Beam, for about $13.6 billion in 2014.

AB InBev’s planned acquisition of SABMiller would create a brewing behemoth with about 30% of the world’s beer market. The deal, announced in November, has drawn scrutiny from antitrust regulators in Europe, the U.S. and other markets.