Cofides supports Spanish businesses overseas

The Spanish firm Cofides, which supports Spanish companies in managing their international expansion plans, has backed three more businesses with a total investment of €30m. It has accorded €25m of loan financing to the telecommunications company Meditelecom, which has bases in Spain, Portugal and Morocco. The investment is designed to support the company’s bid to expand its mobile network within Morocco. Cofides also acquired a minority stake in the cinema exhibitions group Cinebox, which manages 17 concessions in Spain, Brazil and Venezuela. In addition, the firm accorded €3m of loan financing to the clinical services company IL Diagnostics, a subsidiary of CH Werfen. Cofides manages a fund called FIEX (Fondo para Inversiones en el Exterior) through which it acquires minority stakes in Spanish-owned companies based overseas. The fund invests through by taking equity stakes or co-investment loans of up to €25m, with a minimum investment of €2m. FIEX currently has €390 under management. Cofides also provides consultancy and financial advisory services to businesses and institutions.

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• Southern Europe