Four Roses bourbon, put up for disposal by Diageo and Pernod Ricard after their joint bid for Seagram is to be acquired by Kirin, the Japanese brewer for up to £70m.

Kirin is understood to have signed an agreement conditional upon Diageo and Pernod securing regulatory approval for their $8.15bn acquisition of Seagram.

Although the deal has been approved by the European Commission, it is still awaiting the green light from the US Federal Trade Commission and Canadian regulators.