GCC announces settlement and $71.5 million payment tied to arbitral award
GCC•GCC entered into a settlement agreement and received a gross payment of US$71.5 million, fully resolving a dispute tied to its 2011 sale of an equity interest in SOBOCE.
1. Settlement resolves dispute
GCC, S.A.B. de C.V. entered into a settlement agreement and received a gross payment of US$71.5 million. The company said the dispute has been fully and finally resolved. The arbitration arose in connection with GCC’s 2011 sale of an equity interest in SOBOCE, S.A. to Consorcio Cementero del Sur S.A.
