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News Compañía de Inversiones Mercantiles and GCC reach a settlement

Compañía de Inversiones Mercantiles and GCC reach a settlement

Written by Global Cement staff 14 March 2023
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Bolivia/Mexico: Compañía de Inversiones Mercantiles (CIMSA) has signed a settlement agreement with GCC in the parties' dispute over a transaction affecting shares in Sociedad Boliviana de Cemento (SOBOCE). Law360 News has reported that the settlement does not preclude GCC´s option to recover the settlement amount from other third parties, if necessary.

GCC failed to grant CIMSA a right of preference before selling its 47% stake in SOBOCE in 2011. The Inter-American Commercial Arbitration Commission (CIAC) subsequently awarded compensation to CIMSA. Since this time, the matter has passed through courts in both Bolivia and the US.

Last modified on 15 March 2023
Published in Global Cement News
Tagged under
  • Bolivia
  • Mexico
  • GCC
  • Compania de Inversiones Mercantiles
  • SOBOCE
  • Court
  • Dispute
  • Contract
  • option
  • GCW599
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