Australia's most iconic beers are soon to be in the hands of Japanese brewer Asahi after it announced a $16 billion deal to take over Carlton United Breweries.

CUB, known for beers such as Victoria Bitter, Pure Blonde and Carlton Draught, is based in Melbourne but owned by Belgian multinational Anheuser-Busch InBev.

Watch the related video above: Full strength beer debate at Perth Stadium

Foster's purchased CUB 15 years ago, before being bought by South Africa’s SABMiller in 2011 for $11 billion.

InBev acquired SABMiller in 2018.

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The Aussie favourites will continue to be brewed down under, with the deal expected to be finalised in 2020.

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