0001711375-26-000023
SEC filingLoma Negra disclosed a material change in the ownership and governance of its indirect controlling shareholder, Intercement Participações (ICP), following court-approved judicial reorganization, resulting in creditor-led shareholding and board renewal while Loma Negra’s direct control structure remained unchanged.
This filing reports a pivotal governance shift at Intercement Participações (ICP), Loma Negra’s indirect controlling shareholder, triggered by the court-approved Judicial Reorganization Plan. The extraordinary shareholders’ meeting approved a substantial capital increase—R$2.816 billion—fully subscribed by ICP’s creditors electing equity in lieu of cash repayment. This transaction extinguished Mover Participações’ entire stake and preemptive rights, effectively terminating its ultimate control. The resulting ownership is now fragmented among creditor-investors: Latcem LLC (38.7%), Redwood (26.7% through two Indigo Vale LLCs), and Moneda (24.0% across four distinct funds), with no inter-shareholder agreements governing ICP or its subsidiaries—including Loma Negra. Critically, Loma Negra’s immediate control remains stable: InterCement Trading e Inversiones Argentina, S.L. continues to hold 52.14% of voting shares, unaltered. While operational control and day-to-day management of Loma Negra are unaffected, the restructuring introduces new, financially motivated stakeholders at the top of the ownership chain—potentially influencing long-term strategic decisions, capital allocation policies, or future transactions involving ICP’s global cement portfolio. Investors should monitor whether this creditor-led ownership evolves into coordinated governance or remains passive, as well as any subsequent disclosures regarding ICP’s post-reorganization financial covenants or reporting obligations.