Bolivia's Supreme Court of Justice (TSJ) has upheld a ruling ordering Gloria Group subsidiary Sociedad Boliviana de Cemento (Soboce) to pay BOB744m (US$108m) in compensation to rival producer Fancesa in a long-running unfair competition case.
The court rejected Soboce's appeal, reaffirming an earlier judgment issued by the Departmental Court of Justice of Chuquisaca. The case relates to actions taken while Soboce was a shareholder in Fancesa, including the use of its shareholding as collateral to secure a loan for investments at its Viacha cement plant. Fancesa argued that these actions constituted unfair competition and caused financial harm.
The ruling removes the legal uncertainty created after enforcement of the compensation order was suspended by a constitutional court in 2025. Chuquisaca Governor Luis Edson Ayllón said the department would now begin legal proceedings to recover the compensation awarded to Fancesa.
Peru-based Gloria Group acquired control of Soboce in 2014 and has since expanded its cement interests across the Andean region through subsidiaries including Yura in Peru.
