AIG Gets Brazilian Manufacturer

AIG Capital Partners has led a buyout of Companhia Providencia Industria e Comercio (Providencia), a Brazil-based manufacturer a fabric made of polypropylene used in disposable goods such as diapers and feminine care, and durable goods such as auto-parts and home furniture. The deal was valued at $432.6 million, with other members of the buyout consortium including GG Investimentos, Banco Espirito Santo and the Constantino Family. To provide leverage, Banco Santander led a local commercial paper issuance worth around $216 million.