KKR & Co. is nearing a deal to sell pub operator Australian Venue Co. to private equity firm PAG for about A$1.4 billion ($906 million), according to a person familiar with the matter.

Discussions are in the final stages and an announcement could come as soon as in the coming days, said the person, who asked not to be identified as the information is private. The management of Australian Venue will stay on to run the business, the person said.