Orion is understood to be taking on the account with immediate effect.
The awarding of the account follows the appointment of a new media director at the barter company, which deals in non-monetary transactions.
Last week, it was announced that Mark Finnegan would join Orion in the vacant role.
He will be responsible for the further development of media opportunities across clients, agencies and media owners, and will report to Paul Benson, the European managing director of Orion.
Finnegan joins Orion from Global Radio, where he headed up trading and planning.
Orion is active in 13 countries, with two more offices planned for this year. Established in 1996 by the Interpublic Group, Orion, a division of Mediabrands, is the only global major agency-owned barter company, with offices in North and South America, Europe, Asia and Australia.
The agency was formed last year when Magna Global Trading rebranded to become Orion.
Last week, the £23m media planning and buying account for Anheuser Busch InBev was awarded to Aegis-owned agency Vizeum, which picked up the account from incumbent Starcom.
Orion and Anheuser Busch were not available for comment.