SANTIAGO, Sept 13 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.