Walsh is working in partnership with private investment firm TPG Capital to make an offer to buy the two global brands, which analysts have valued at £2 billion, Sky News reports.

The talks with TPG in the “early stages” but could result in a formal offer being made, sources told the news channel.

the drinks business has contacted TPG Group for comment.

The two brands are currently owned by global beer producer SABMiller, which is in the process of being taken over by Budweiser and Stella Artois producer AB InBev.

AB InBev recently confirmed press speculation that it is aiming to sell Peroni and Grolsch in order to try to secure regulatory approval for the takeover, which is set to result in one of the largest consumables company in history.

It also revealed it is intending to sell the London-based craft brewer Meantime, which was only purchased by SABMiller in May of this year.

A statement from the group in early December said: “AB InBev will contact potential purchasers in the coming weeks to assess their interest in the Peroni and Grolsch brand families and their associated businesses in Italy, the Netherlands and the UK”.

“Like the previously announced disposal of the Miller business to Molson Coors,” which was also revealed in November, “these steps reflect AB InBev’s pro-active approach to addressing potential regulatory concerns,” the company said.

Walsh, who left Diageo in 2013, was said to have been joining the board of Formula 1 in January this year, but the appointment never materialised. 

Read more at Source | The Drinks Business