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Thursday, February 22, 2024

Simmons, Garrigues advise on FONREC´s loan to Spanish Bakery & Coffee

Simmons & Simmons has advised Spain´s COFIDES on the €6 million state aid granted by FONREC to Spanish Bakery & Coffee, represented by Garrigues

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The Technical Investment Committee of the Fund for the Recapitalisation of companies affected by COVID-19 (FONREC), managed by COFIDES, has approved several new applications for funding.

One of them will be granted to Spanish Bakery & Coffee in an amount of €6 million.

PKF Attest has participated in the transaction as financial advisor and Simmons & Simmons as COFIDES legal advisor. The company has counted on Auren Corporate as financial advisors and Garrigues as legal advisors.

The company focuses its activity on the operation of bakeries and cafeterias in Madrid and Barcelona.

All transactions have been analysed by Inbonis Rating in the first phase of the process.

Simmons & Simmons advised COFIDES with a team led by partner Santiago Hurtado.

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