Latin American businesses banking on Spain

LATIN AMERICAN firms are investing in Spain and its discredited banking sector as a springboard into the rest of Europe.

Mexican and Venezuelan companies in particular are investing in all sectors, with Spanish banks seen as especially easy prey following the crisis.

Banco Popular, Liberbank and Banco Sabadell have all opened their capital to Mexican investors.

“Numerous companies are using Spain as a bridgehead, the gateway to Europe,” said Juan Carlos Martinez Lazaro, of the IE Business School in Madrid. “It’s a phenomenon that is going to grow as Latin American businesses gain strength, financial capacity and managerial capacity.”