Chihuahua Exits Bolivia Cement

Grupo Cementos de Chihuahua (GCC) has agreed to sell its 47% stake in Bolivian cement maker Sociedad Boliviana de Cementos (Soboce) to Consorcio Cementario Sur, a unit of Peru’s Grupo Gloria. The deal marks the Mexican cement makers exit from Bolivia. GCC and Grupo Gloria officials did respond to requests for comment on the value of the deal. GCC plans to use proceeds to reduce debt. In April, a judge in Bolivia ordered a freeze on assets held by Soboce, which is 53% owned by a group controlled by Samuel Doria Medina.