Costa del confidence

Article Abstract:

Spain is increasingly attractive to foreign investors. The country has a stable government which is committed to business growth. It has strong economic ties with Latin America and its commitment to European Monetary Union will bind it even more closely to strong European economies. The central bank reduced interest rates to a record low of 3.75% in Oct 1998, which should help the government achieve 3.7% economic growth in 1998. The forecast for growth in 1999 is 3.8%, which is double the forecast for the European Union as a whole.

Economic aspects

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CSFBPE completes first deal in Spain

Article Abstract:

Control of leading Spanish frozen dough producer Frida Alimentaria will pass from Mercapital and entrepreneur Bartolome Parera to a management team headed by Chief Executive Officer Alfonso Duran Pich and Director and General Manager Manuel Sellares following a deal arranged by Credit Suisse First Boston Private Equity (CSFBPE). The business has considerable potential to grow organically, but CSFBPE may also consider purchasing other businesses. CSFBPE has not been deterred by difficulties associated with doing deals in Spain.

Frozen Food Manufacturing, Frozen Foods, Preserved Fruits and Vegetables, Management, Foreign operations, Frozen foods industry, Credit Suisse First Boston Private Equity, Frida Alimentaria

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The big picture for Spain

Article Abstract:

The Spanish economy is set to expand in 1995, being boosted by a rise in domestic demand. GDP is forecast to increase by almost 3%, with disposable income rising as a result of wage rises. However, the peseta may come under pressure, and public investment will continue to fall. The next cycle of the country's economy is likely to be less steep than the previous one, improving long-term economic prospects.

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