Belgium's Interbrew Group, owner of multiple brands including Stella Artois premium lager brand, has exchanged contracts for the acquisition of the brewing interests of UK hotels, restaurants and pubs group, Bass.

The £2.3bn ($3.46bn) deal is conditional on regulatory approval by the European Commission, although not by the UK’s Competition Commission. Interbrew, which recently agreed to buy the British brewing operations of Whitbread for at least £400m, would control around 32% of the UK's beer market if the Bass deal gets the thumbs-up from the EC.

News source: Financial Times