Chilean beverage company Compania Cervecerias Unidas SA's (CCU,
CCU.SN) seeks to raise some $694 million through the issue of new
shares, the company said in a Monday filing with the local
securities regulator.
CCU will use the proceeds of the issue to finance its organic
and inorganic expansion plans while maintaining a solid financial
positions, according to the filing.
After Sunday board meeting, the company called for a June 18
shareholder meeting to vote on the capital increase.
CCU, which has operations in Chile, Argentina and Uruguay, makes
and bottles beer, soft drinks, mineral water and fruit juices. It
also distills pisco-grape brandy and rum.
It has beverage licenses for products from Heineken NV (HINKY,
HEIA.AE), Anheuser-Busch InBev NV (BUD, ABI.BT), PepsiCo Inc.
(PEP), Paulaner Brauerei AG, Schweppes Holdings Ltd., Guinness
Brewing Worldwide Ltd. and Nestle SA (NSRGY, NESN.VX).
The beverage company is controlled by the local Luksic family,
which also controls London-listed mining company Antofagasta PLC
(ANFGY, ANTO.LN), Banco de Chile (BCH, CHILE.SN) and shipping
Compania Sud Americana de Vapores SA (VAPORES.SN).
Write to Carolina Pica at carolina.pica@dowjones.com
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