Saturday , October 23 2021

Very serious accusation against Loma Negra


The arguments against Loma Negra were presented before the courts. The first paragraph mentions "bribery paid during the Kirchner administration to obtain contracts in public affairs in Argentina, including the construction of the Bicentenario water treatment plant in the state of Buenos Aires." The words refer to the "Del Bicentenario" sewage treatment plant in Berazategui, which was launched in 2014 and is one of the most important sanitation studies in Argentina and one of the largest in the world. According to the presentation, he suffered "disrespectful reputations" and "a negative impact on business" in connection with "ongoing corruption cases" in the Cuadernos case. According to the presentation, the ”tremendous corruption“ cases of için Loma Negra's parent company yer have put the validity of public affairs at risk for the necessary infrastructure for Argentina today. In her submission of the judiciary, she referred to the fact that the allegations of corruption by Loma Negra would cause the company to be excluded from future public works contracts.

In addition, in financial risks, the applicants referred to the fact that the Mauricio Macri government's severe fiscal adjustment policy, caused by the economic crisis, caused delays in payments to contractors in public affairs (something that is not in reality). It will affect the entire construction sector, including Loma Negra.

This presentation was in the middle of financial crises in early July and before the outbreak of the eler ledgers eler case, in front of the same courts of the other shareholders, the Argentine financial crisis in the company's New York shares. And during the public offering, the placement banks (J.P.Morgan and Alaria) were not warned about the weakness of the country's financial situation and the proximity of the Argentine public accounts in a possible default. At the time and with the arguments, the presentation was not judicially and financially sound. In short, according to the jurisprudence of capitalism, losing money for a structural and exchange crisis is the essence of capitalism. However, the same argument was aggravated this week with the return of shares of Loma Negra's reasons for corruption in the previous government, and the negative consequences of these events. This violated public code of ethics and ultimately damaged equity. The crisis and the lack of expectations of the banks would only make the situation worse.

The public offering of Discord was launched in November 2017 in a noisy move on Wall Street. For this operation, the cement owned by Camargo Correa Brazilians collected about $ 980 million. At the time, the analyst Sebastian Maril, a research analyst at the Researchers' Research Institute, said: ac This trial opened the doors of shareholders who initially bought shares in the IPO of the past year or earlier, and the insurers could not afford the economic situation and 39 expectations “in Argentina. Government decisions on the construction sector (as set out in the case) initiate similar cases against other companies. "

The issuance of the IPO corresponded to approximately 50.200,000 American Deposit Sharing (ADS), equivalent to 251 million ordinary shares (US $ 3.80), close to 40% of the company's total value. The description of Camargo Correa in the installation was to be used to finance capital investments in Argentina. Loma Negra is the country's main cement producer and accounts for 45% of the market.

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