Orbia Drops €1bn Liability, Mercado Libre Targets Shein
Latin American corporates are fortifying market share against foreign e-commerce giants and cleaning up balance sheets, highlighted by a major Dutch court win for Mexico's Orbia and a new private-label push by Mercado Libre.
Mexico’s Orbia Advance Corporation eliminated a major balance sheet risk on Friday as an Amsterdam court dismissed a €1 billion cartel-damages claim brought by a foundation representing Shell and Repsol. The judges ruled it was "not plausible that the alleged conduct caused the claimed harm," wiping out a significant overhang for the industrial giant.
The ruling provides clean closure to a protracted legal battle for Orbia, formerly known as Mexichem. For investors, the removal of a potential billion-euro liability substantially improves the company's risk profile and frees up capital that would otherwise be reserved for litigation.
Meanwhile, regional e-commerce leader Mercado Libre is shifting from defense to offense against Asian fast-fashion platforms. The company filed trademarks for 'Balse', a private-label fashion brand, in Brazil, Argentina, and Chile.
The move marks a direct attempt to capture market share from Shein and Temu, which have rapidly eroded the market share of local retailers. Expanding into private-label apparel allows Mercado Libre to improve its take-rate margins on clothing sales while leveraging its existing logistics network.
The strategy is paired with public pressure for regulatory intervention. Juan Martín de la Serna, Mercado Libre's head in Argentina, framed the push as a fight for an "equal regulatory framework" against Chinese platforms, signaling that the company is lobbying for trade or tax barriers to slow foreign competitors.
Fintech unbundling and mining margins
In Colombia, the fintech sector is maturing. Nequi, the digital wallet launched by Bancolombia, confirmed it will operate as a fully independent regulated finance company by September 1 following Superintendencia Financiera Resolution 2002. The spin-off allows both the legacy bank and the digital wallet to pursue distinct growth strategies without dragging on each other's valuations.
Elsewhere, Peru's Buenaventura reported that its quarterly profit more than doubled, driven entirely by a rally in gold prices. The miner's results underscore a broader regional trend where commodity-exposed assets continue to generate outsized returns, largely detached from local political instability.
Taken together, Friday's developments show Latin America's largest listed companies aggressively protecting their turf. Whether through Dutch litigation, private-label launches, or corporate spin-offs, regional incumbents are moving to structurally insulate their businesses from foreign disruption.
