	Percentage of participation		As of December 31, 2018		As of December 31, 2017
	%		ThCh $		ThCh $
Cervecería Austral S.A.		50.00		7,327,949		6,126,384
Foods Compañía de Alimentos CCU S.A.		50.00		12,012,276		5,792,242
Central Cervecera de Colombia S.A.S.		50.00		40,681,482		50,374,322
Zona Franca Central Cervecera S.A.S.		50.00		80,766,534		20,696,077
Total joint ventures				140,788,241		82,989,025
Bebidas Bolivianas BBO S.A. (1)		34.00		-		14,641,870
Other companies (2)				1,229,540		1,639,385
Total associates				1,229,540		16,281,255
Total				142,017,781		99,270,280

The above mentioned values include goodwill generated in the acquisition of the following joint venture and associate, which are presented net of any impairment loss:

	As of December 31, 2018		As of December 31, 2017
	ThCh $		ThCh $
Cervecería Austral S.A.		1,894,770		1,894,770
Bebidas Bolivianas BBO S.A. (1)		-		8,294,324
Total		1,894,770		10,189,094

	For the years ended as of December 31,
	2018			2017			2016
	ThCh $			ThCh $			ThCh $
Cervecería Austral S.A.		1,638,811			952,235			754,326
Foods Compañía de Alimentos CCU S.A.		792,376			165,905			(519,536	)
Central Cervecera de Colombia S.A.S.		(11,804,950	)		(8,646,651	)		(3,969,699	)
Zona Franca Central Cervecera S.A.S.		(391,465	)		87,583			-
Total joint ventures		(9,765,228	)		(7,440,928	)		(3,734,909	)
Bebidas Bolivianas BBO S.A. (1)		(921,812	)		(1,459,916	)		(1,805,548	)
Other companies (2)		(128,480	)		(13,253	)		(20,065	)
Total associates		(1,050,292	)		(1,473,169	)		(1,825,613	)
Total		(10,815,520	)		(8,914,097	)		(5,560,522	)

	As of December 31, 2018			As of December 31, 2017
	ThCh $			ThCh $
Balance at the beginning of year		99,270,280			64,404,946
Other payments to acquire interests in joint ventures		59,505,559			49,312,890
Cash flows used to purchase non-controlling interests		-			1,149,689
Participation in the joint ventures and associates (loss)		(10,815,520	)		(8,914,097	)
Dividends received		(423,994	)		(353,150	)
Business combinations (1)		(14,144,241	)		-
Others		8,625,697			(6,329,998	)
Total		142,017,781			99,270,280

A closed stock company that operates as a beer manufacturing facility in the southern end of Chile, which is the southernmost brewery in the world.

Foods, is a closed stock company that participated in the business of snacks and foods in Chile. At the end of 2015, Foods sold the Calaf and Natur brands to Empresas Carozzi S.A. In addition Foods was the main shareholder of Alimentos Nutrabien S.A. and owned the Nutra Bien brand. On December 17, 2018, Foods and subsidiary CCU Inversiones S.A. sold 100% of the shares of Alimentos Nutrabien S.A. to Ideal S.A.

On November 10, 2014, CCU, directly and through its subsidiaries CCU Inversiones II Limitada, and Grupo Postobón have established a joint arrangements through a company named Central Cervecera de Colombia S.A.S. (the "Company"), in which CCU and Grupo Postobón participate as equal shareholders. The purpose of this Company is the beer and non-alcoholic drinks production, marketing and distribution based on malt (Products).

Subsequently, on August 16, 2017, CCU, through its subsidiary CCU Inversiones ll Limitada, acquired 50% of the shares of of a company incorporated in Colombia called Zona Franca Central Cervecera S.A.S. (ZF CC), which relates to a joint agreements and that qualifies as a joint operations, in which CCU and Grupo Postobon participate as equal shareholders. The amount of this transaction was US$ 10,204, equivalents to ThCh$ 6,432. The purpose of ZF CC is acting exclusively as industrial user of one or more free zones, providing tolling services to CCC, and this latter company will produce, market and distribute Products.

For the purposes above, previous associations involves the construction of a beer production plant, with an annual total capacity of 3,000,000 hectoliters.

The Parties will also invest in CCC and ZF CC an approximate amount of US$ 200,000,000 in equal parts, following a gradual investment plan agreed by the parties.

As of December 31, 2018 and 2017, the total amount contributed to CCC and ZF CC was US$ 236,857,949 (equivalents to ThCh$ 153,149,320) and US$ 144,740,179 (equivalents to ThCh$ 93,643,761).

As of December 31, 2018, 2017 and 2016, the significant items of the financial statements of 100% of joint ventures and associates are summarized as follows:

	Joint ventures		Joint ventures		Associates
	As of December 31, 2018		As of December 31, 2017
	ThCh $		ThCh $		ThCh $
Assets and Liabilities
Current assets		206,761,242		49,960,930		5,540,894
Non-current assets		246,997,507		150,837,264		26,609,731
Current liabilities		172,143,127		35,339,239		4,444,262
Non-current liabilities		2,893,856		1,994,220		9,037,112

	Joint ventures			Joint ventures			Associates			Joint ventures			Associates
	For the years ended as of December 31,
	2018			2017						2016
	ThCh $			ThCh $			ThCh $			ThCh $			ThCh $
Income Statement (Summarized)
Net sales		70,296,729			57,417,288			19,760,918			63,926,397			19,733,853
Operating result		(21,173,985	)		(18,606,383	)		(4,086,973	)		(11,913,526	)		(4,159,093	)
Net income for year		(19,886,274	)		(14,352,788	)		(4,462,733	)		(7,287,727	)		(4,712,596	)
Other comprehensive income		(24,720,721	)		(27,052,015	)		(5,761,515	)		(3,451,487	)		(7,965,214	)
Depreciation and amortization		(2,656,715	)		(2,618,567	)		(2,818,923	)		(2,104,820	)		(2,698,849	)