It is not clear whether the incumbents, Fallon UK and DDB in Ireland, will pitch for the account.
The review follows the merger of Budweiser-owner Anheuser-Busch and Brazilian-Belgian brewer InBev last year.
The merger led to a number of personnel changes as the combined entity took shape.
In April, Inbev marketing chief Andreas Hilger was named UK marketing director which followed the promotion of Stuart MacFarlane to UK president of InBev in the UK.
The merged entity launched a new corporate identity last December introducing the image of an eagle rendered in “rich golden colours”.
Last year Budweiser launched the Fallon-created “True Dedication” campaign which featured a group of musicians jamming in their basement studio.
The TV spots saw the band playing their versions of 1969 pop instrumental, ‘Popcorn’ and Salt ‘n Pepa classic ‘Push It’.