Corporación Interamericana de Entretenimiento paid $50 million for an 85% stake in Latin Entertainment, a holding company that owns the sports and entertainment site Elfoco.com and Correoweb.com, a portal and e-mail service. CIE, a Mexican company that specializes in promotions, events and amusement parks, exercised an option it signed in January to buy the shares. At the same time, CIE signed a deal in which Banco Inbursa’s venture capital arm will buy 31.5% of Latin Entertainment for $50 million. Latin Entertainment intends to expand into the rest of Latin America as well as Spain and the US, to serve the Hispanic market. Latin Entertainment currently has operations in Argentina and Mexico.
