Soboce shareholder: stake in Fancesa is worth US$80m

Soboce shareholder: stake in Fancesa is worth US$80m
Published: 06 September 2010

Samuel Doria Medina, the principal shareholder with Soboce - partnered with Cementos Chihuahua - , estimates the 33.34% stake held by this company into the cement company Fancesa to be worth US$80m and is willing to collect this amount from the Bolivian government that issued a nationalisation decree for Fancesa.

Medina values the assets of Fancesa at US$123m, and one-third of it at US$41m, while the market value would double up the book value. The entrepreneur explained Soboce purchased a stake o Fancesa in a 1999 privatisation and the company than had 392 employees, and currently a labour force of 1.307. Whatever Medina says, the Administration of President Evo Morales and of Chuquisaca would be hiring an independent consultancy to put a tag in the asset, the discussions should start.