The Luksik group, a Chilean mining and investment group, has agreed to pay $120 million for an additional 8 percent of container line CSAV, in addition to the 10 percent it bought last month.
The purchases were made from Marinsa, CSAV's primary stockholder, through Quinenco, the company through which Luksik controls its investments.
Luksic said it will ask shareholders to raise an additional $500 million in capital. CSAV warned last month of "negative results" for the first quarter and said the company would seek a $500 million capital increase and to sell up to 49 percent of the company's ports and shipping services subsidiary.
CSAV has expanded rapidly since receiving a cash bailout of $770 million in 2009 from German shipowners, including Peter Dohle, which took a minority stake in the company in exchange for lower charter rates.
The company has jumped from 16th to seventh in vessel capacity measured in 20-foot-equivalent units.
CSAV swung to a full-year profit of $170.8 million in 2010 from a loss of $656.4 million in 2009 as operating revenue rose 79.7 percent to $5.45 million.
The purchases were made from Marinsa, CSAV's primary stockholder, through Quinenco, the company through which Luksik controls its investments.
Luksic said it will ask shareholders to raise an additional $500 million in capital. CSAV warned last month of "negative results" for the first quarter and said the company would seek a $500 million capital increase and to sell up to 49 percent of the company's ports and shipping services subsidiary.
CSAV has expanded rapidly since receiving a cash bailout of $770 million in 2009 from German shipowners, including Peter Dohle, which took a minority stake in the company in exchange for lower charter rates.
The company has jumped from 16th to seventh in vessel capacity measured in 20-foot-equivalent units.
CSAV swung to a full-year profit of $170.8 million in 2010 from a loss of $656.4 million in 2009 as operating revenue rose 79.7 percent to $5.45 million.