Compañía Española de Financiación del Desarrollo,COFIDES SA has reached a financing agreement with Ezentis to boost its internationalisation process in Latin America. COFIDES will grant a joint venture loan totaling €3,000,000, through the Fund for Foreign Investments (FIEX) and the Company’s own resources. With this investment, the equity provided will finance company acquisitions in Latin America. Along with the contribution of the promoter, the total investment amounts to €6,000,000.

This is the first operation in which COFIDES and Ezentis have worked together in order to boost their international growth. After the signing of the agreement COFIDES Chairman and CEO Salvador Marín stressed “the Spanish companies in the telecommunications sector are showing that they are very competitive and the demand for telecommunications and electrical infrastructure investment, especially in the ´last mile´ development in the Latin American region, is very high, which facilitates their access to this market”.

According to Manuel García-Durán, CEO of Ezentis, “The agreement between the two companies leverages important support for the Ezentis business strategy in Latin America. With this financing agreement Ezentis will continue its expansion in a region with great business opportunities, which will positively impact the profit and loss account of both companies”.

Ezentis is a Spanish business group listed on the Stock Market of Madrid and Bilbao, with over 9000 employees and an annual turnover of €200m. Founded in 1959, the main activity of Ezentis centres around industrial consulting, planning, design, engineering, implementation, management and maintenance of distribution networks in major telecommunications, electricity, water, gas, oil and mining.

Ezentis business lines are focused on the “last mile”, which is where the telecommunication, electricity and water management services actually reach domestic households. It is a global company committed to the last mile in over 15m households in Spain, Argentina, Chile, Peru, Brazil, Colombia, Panama, Jamaica, Haiti, and soon in Mexico

COFIDES is a combined private-public concern, which since 1988 has provided financial support to Spanish enterprises abroad. COFIDES manages the FIEX and FONPYME funds on behalf of the State Secretariat of Commerce, within the Ministry of Economy and Competitiveness. The stockholders include the Bank of Bilbao Vizcaya Argentaria (BBVA), Santander Bank, Popular Bank, Sabadell Bank and CAF-Development Bank of Latin America

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