Japan's Asahi to take over beer business of Fuller, Smith & Turner for USD 327 mn

British pub operator and brewer Fuller, Smith & Turner said it had agreed to sell its beer business to a European unit of Tokyo-based Asahi for an enterprise value of 250 million pounds ($327 million) on a debt and cash free basis. Shares of the pub operator jumped 21 per cent.

Fuller, which looks to be a focused, premium pub and hotel operator after the disposal, said the business being sold comprises its beer, cider and soft drinks brewing and production, wine wholesaling and distribution among others.