Chile’s Vapores To Raise Capital By $1.2B

Shareholders of Chilean regional shipperVaporeshave approved a $1.2 billion capital increase to boost finances,Reutersreports.Quinencois expected to finance $1 billion of the capital raise andMaritima de Inversioneswill finance $100 million and shareholders the remaining $100 million.

The Luksic family’s holding group Quinenco has invested $240 million in the shipper in 2011. Vapores raised $430 million in a separate capital hike in July, also to bolster its business.

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