Chile brewer CCU agrees to wine unit merger

SANTIAGO, July 15 (Reuters) - CCU, Chile's largest brewer, said on Tuesday it had approved the merger of its subsidiary Vina San Pedro with fellow wine producer Vina Tarapaca.

Under the deal, CCU will buy shares amounting to 25 percent of the capital of Vina Tarapaca, leaving it with a 44.9 percent stake in the merged company, CCU said in a statement.

Vina Tarapaca's parent Compania Chilena de Fosforos will hold a 30 percent stake, with the remaining 25.1 percent held by shareholders. (Reporting by Rodrigo Martinez)