Samuel Doria Medina, leader of Bolivia’s Unidad Nacional party, has sold his controlling stake in Bolivian cement manufacturer Soboce. The stake has been acquired for US$300 million by Holding Cementero S.A, adding to its previously held 49% stake.
Holding Cementero forms part of the Peru-based Grupo Gloria, which also owns Cementos Yura and its subsidiaries. The company has committed to retaining existing jobs at Soboce, which employs more than 10 000 Bolivians either directly or indirectly. Holding Cementero has also stated that it will continue to invest in Soboce’s growth.
Mr Medina has announced that ‘a substantial portion’ of the sale money will be donated to Bolivian charitable projects, such as the Jisunu Foundation.
Edited from various sources by Louise Fordham
Read the article online at: https://www.worldcement.com/the-americas/18122014/samuel-doria-medina-sells-controlling-stake-in-soboce-43/