June 18, 2013 / 9:42 PM / 5 years ago

UPDATE 1-Chile CCU shareholders approve $680 mln capital increase

SANTIAGO, June 18 (Reuters) - Shareholders of Chilean brewer and bottler CCU on Tuesday approved a 340 billion peso ($680 million) capital increase to finance growth plans.

CCU, which has operations in Argentina, Chile and Uruguay, is controlled by the local Luksic family’s Quinenco holding company and Heineken.

The company is planning to invest around $2.7 billion through 2020 to increase its productive capacity, Chief Financial Officer Ricardo Reyes said earlier during the shareholders’ meeting.

CCU’s investment is in part destined to finance entry into neighboring countries and to launch a lacteose business in Chile.

Shares in CCU closed 0.09 percent lower on Tuesday, slightly underperforming the blue-chip IPSA stock index, which ended 0.04 percent higher.

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