Deceuninck EGM approves 85 mln eur cap hike

* Firm offers preferential rights to existing investors

* Says issue price, dates, other details in due course"

BRUSSELS, June 26 (Reuters) - Struggling Belgian PVC window frame maker Deceuninck (DECB.BR) said shareholders approved plans for a capital increase to raise 85 million euros ($118.4 million).

Deceuninck, which first said it intended to launch a capital increase last November, gave no indication of the issue price or subscription dates following Friday's green light.

It said these and other terms and conditions would be divulged "in due course", adding that existing shareholders would get unspecified preferential subscription rights to the new issue.

Deceuninck, whose earnings have been dented by the economic downturn battering the construction market, said last month it had reached a deal with lenders to refinance its loans.

The company, which makes a range of PVC-based products for the construction industry, has predicted a difficult year, with third- and fourth-quarter like-for-like sales expected to be substantially below levels in the same period of 2008. Deceuninck has said the capital increase would likely take place in the third quarter of this year, and be supported by two core shareholders and ING Belgium NV, KBC Securities NV and Dexia Bank Belgie.

(Reporting by Anne Jolis; editing by John Stonestreet)