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January 15, 2015

Grupo Gloria acquires majority stake in Soboce

Miranda & Amado Abogados has advised Peruvian conglomerate Grupo Gloria in the acquisition of a 51% stake in Bolivian cement maker Sociedad Boliviana de Cemento (Soboce), for US$300 million, the largest deal ever conducted on the Bolivian stock exchange.

The sale increases Grupo Gloria’s stake in Soboce to 98%, adding to an early stake acquired by the Peruvian conglomerate in 2011. Bolivia’s securities regulator gave the green light to the deal on December 15th, 2014.

Grupo Gloria was advised by partner José Daniel Amado, counselors Anahí Com and Sergio Quiñones, and associate José Luis Vargas-Machuca. Bolivian law advice was provided by CR & F Rojas Abogados from La Paz.