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Free from Austria's troubles, Germany and Italy could concentrate on attacking France. In fact, once the British-French-Austrian balance in Europe changed, Spain might also decisively join the war and carve up the enormous "cake" that was France.
What attracted Spain, apart from France's vast native land, was the large swath of African colonies occupied by France.
As an old colonial power, France's colonies were second only to the British Empire, ranking second in the world.
For Spain, most of the French colonies in Africa were desirable.
Especially Northwest Africa, which was a deadly temptation for Spain. If they could acquire a large portion of Northwest African land, Spain's comprehensive national power would receive a tremendous boost, potentially becoming a super empire with native lands across two continents, like the Ottoman Turkish Empire.
