Japan’s Asahi Group Holdings Ltd. says it has submitted an offer to Anheuser-Busch InBev to purchase SABMiller’s Peroni, Grolsch and other Italian, Dutch and British businesses for $2.87 billion. The deal is contingent upon the closing of AB InBev’s acquisition of SABMiller.

AB InBev floated the idea of selling off SABMiller’s European premium beer brands in an effort to address potential regulatory concerns after announcing it would purchase the London-based beverage company last year for $107 billion.

Asahi—which has a successful distribution network in Asia and Oceania—says the proposal is an attempt to grow and expand its presence overseas.

“Through this proposed acquisition, Asahi aims to expand its growth platform in Europe and become a global player with a distinct position,” Asahi said in a statement.