The supermarket giant will add 21 stores to its Liquorland chain.
Mill Retail Holdings goes on the market.
The company reported a loss of $52.6 million in calendar 2014 compared with a loss of $41.6 million a year earlier.
Insurance companies tied up in the Independent Liquor litigation will carry most of the burden of the $220m out-of-court settlement.
Asahi claimed the sellers of Independent Liquor overstated its earnings.
Settlement with Pacific Equity Partners and Unitas Capital came just as substantive hearings in the case were about to begin in Melbourne.
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