COFIDES supports .A.S.A. in its internationalisation process in Bulgaria

COFIDES supports .A.S.A. in its internationalisation process in Bulgaria

  • COFIDES will provide .A.S.A. €1m by way of a joint venture loan through the FIEX Fund

cofides%20logoMadrid, Sofia January 27, 2015. Compañía Española de Financiación del Desarrollo, COFIDES SA will financially support .A.S.A. (.A.S.A. Bulgaria EOOD), a subsidiary of FCC Environment for its development in the Bulgarian market.

COFIDES will provide a €1m loan through the Fund for Foreign Investment (FIEX) to support a machinery and vehicle investment project for their Bulgarian subsidiary. The main activity of .A.S.A., an FCC subsidiary in Central and Eastern Europe is the provision of a full waste management service (refuse collection, transportation, disposal, landfill, sorting and recycling).

COFIDES will contribute to the financing of fixed equipment necessary for its waste collection activities in one of the districts of Sofia.

The refuse collection and waste management sector is the key markets of .A.S.A. which is the largest international operator in the area. This is the first international project between COFIDES and .A.S.A.

COFIDES Chairman and CEO, Salvador Marín singled out the international trajectory of .A.S.A. which operates in Central and Eastern Europe. “This cooperation serves to provide both current and future support to .A.S.A. Bulgaria”, stated Johannes Spalek, the Chief Treasury Office of the FCC subsidiary.

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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