Compania Cervecerias Unidas (CCU, Financial) is a leading brewery and soft-drink company based in Chile. Copper is Chile’s main export, and the Chilean economy has suffered as economic strains in China have reduced the country’s appetite for the metal. CCU’s shares were caught up in investor flight from Chilean equities, even though its business fundamentals remained intact.
From the First Eagle Global Value Fund's third-quarter 2019 shareholder letter.
