The move would see it take control of the Fosterís lager brand plus premium beers including VB.
Fosterís Group chief executive Ian Johnston spelt out in May the companyís intentions to split its wine and beer businesses, stoking speculation that the beer arm could be sold, but Johnston said the split was unlikely to be completed until the middle of next year.
Any suitor for the beer business may wait until after the break-up to provide clarity to the acquisition.
The purchase of Fosterís would give SAB Miller extra clout in Asia and make it a stronger contender to world market leader A-B Inbev.
Fosterís lager is handled by Heineken UK in the British market.
SAB brands include Grolsch, Peroni and Pilsner Urquell