UPDATE 1-Chilean brewer CCU places shares in oversubscribed sale

Fri Sep 13, 2013 10:29am EDT

SANTIAGO, Sept 13 (Reuters) - Chilean bottler and brewer Compania Cervecerias Unidas (CCU) said on Friday it successfully placed the first slice of its rights offer, which was more than five times oversubscribed.

CCU , which is controlled by Dutch brewer Heineken and Chile's wealthy Luksic family via holding company Quinenco, said it had placed 22.6 million shares at a price of 6,500 pesos each.

The board placed half with international investors and half domestically, it said.

CCU plans to issue 51 million shares in total, with the second stage preferential option period beginning on Friday and ending Oct. 12.

Chile's largest brewer of beer, which currently has operations in Argentina, Chile and Uruguay, is looking to invest some $2.7 billion through 2020 as it seeks to enter other Latin American markets and expand into the dairy sector.

The company, which dates back to 1850 and also produces wine, rum and soft drinks, has distribution agreements with Heineken, Anheuser-Busch, PepsiCo and others.

Citigroup, Deutsche Bank, Goldman Sachs and JP Morgan are bookrunners for the issue.

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