Bolivia: Samuel Doria Medina, leader of the Unidad Nacional party, has sold his controlling shares of Soboce (Sociedad Boliviana de Cemento). Medina made the announcement after meeting with shareholders and officially listing the sale on the Bolivian stock exchange. Soboce was acquired by the Peru-based Holding Cementero, which has interests in the dairy, food distribution and service sectors. Prior to the full acquisition, Holding Cementero had an existing 49% stake in Soboce.
"I sold Soboce to completely devote myself to the people of Bolivia. In light of the October election results, which made my party the leading opposition force, I felt this was necessary," said Medina. He intends to donate some of the proceeds of the sale to charity.
Soboce was founded in 1925 in Viacha, La Paz. Medina took control of the firm in 1987, building the company from 200 employees to over 10,000.
