Greene King, which is based in Bury St Edmunds has agreed a £2.7 billion sale to Hong Kong real estate giant CKA
Greene King has 2,700 pubs, restaurants and hotels across the UK.
The company was founded in Bury St Edmunds in 1799 by 19-year-old Benjamin Greene
Shares in Greene King have surged after it announced the deal to sell its entire business to CKA Group.
CKA is a real estate group run by Hong Kong's richest family.
The deal offered a 51% premium on the value of shares in the brewer, which employs more than 38,000 staff.
The deal needs to be approved by Greene King shareholders. The directors are recommending they vote in favour.
CKA says it believes Greene King is well positioned to capture the opportunities which lie ahead.
Unions say they'll be seeking an urgent meeting with the company.