SANTIAGO -(Dow Jones)- Shareholders of Chilean holding company Quinenco SA (QUINENCO.SN), owned by the local Luksic family, approved a 300 billion peso ($573 million) capital increase, Valor Futuro newswire reported Thursday. Quinenco will use the funds to pay for part of its commitment to shipper Compania Sud Americana de Vapores SA's (VAPORES.SN) capital increase and the purchase of Colombian fuel company Terpel's Chilean assets. Quinenco, which holds about a 20% stake in Vapores, has committed to subscribe $1 billion of the shipper's recently approved $1.2 billion capital increase. The holding company also recently agreed to pay $320 million for the Terpel assets, which fuel-and-forestry conglomerate Empresas Copec SA (COPEC.SN) indirectly owns. "We need to raise more capital for new projects like Terpel Chile, but the bulk of funds will be used for Vapores' capital increase," Quinenco's chairman Guillermo Luksic said, according to Valor Futuro. The Luksics are reportedly Chile's richest family and control London-listed mining company Antofagasta PLC (ANTO.LN, ANFGY), brewer Compania Cervecerias Unidas SA (CCU, CCU.SN) and the country's second-largest bank, Banco de Chile (BCH, CHILE.SN), among other assets. -By Anthony Esposito, Dow Jones Newswires; 56-2-715-8929; anthony.esposito@dowjones.com
