In a statement made this week, Anheuser-Busch InBev disclosed that it is pursuing a merger with chief rival SABMiller.

“AB InBev confirms that it has made an approach to SABMiller’s Board of Directors regarding a combination of the two companies,” the company said in a press release. “AB InBev’s intention is to work with SABMiller’s Board toward a recommended transaction.”

This venture remains in the early phases.

“There can be no certainty that this approach will result in an offer or agreement, or as to the terms of any such agreement,” the company said.

Should the merger materialize, the new company would control approximately one third of global beer production.

Both companies are continued to explore ways to slow macro beer’s decline in America, while expanding into growing beer markets internationally.

AB InBev said in the press release that it would release more information when the time was appropriate.