Quinenco Approves Capital Raise

Shareholders in Chilean conglomerate Quinenco approved Monday a CLP350bn ($684.6m) capital increase, to take place in the next three years. The form of the increase is to be determined, LatinFinance understands. Quinenco holds stakes in Banco de Chile and drinks maker CCU. The firm tapped the local market last week, raising UF4m ($182m) across a dual tranche 8- and 21-year issue. The company reported assets of CLP26.7tr and shareholders’ equity of 1.9tr at the end of the first quarter.