AIG Invests $38.6 Million in Brazilian Firm
TMCnet - The World's Largest Communications and Technology Community
TMC Launches New Sites ::  NGC  |  4GWE  |  Green Tech  |  Satellite  |  IT |  ITEXPO  |  Healthcare  |  Smart Grid  |  M2M  |  Smart Products  |  AstriCon News  |  SATCON News
TMCnet CHANNELS
#1 VoIP Enabler: Risk-free, Quick & Easy Deployment
Advanced Carrier Services
Advanced IP Carrier
Answering Service
Appliance Deployment
ATCA
Auto Dialer
BPA (3rd Party Remote Call Monitoring)
Broadcast Modulator
Business Phone Systems
Business Process Automation
Business VoIP
Call Center
Call Center Certification
Call Center Digital Signage
Call Center Furniture
Call Center Hiring
Call Center Management
Call Center On Demand
Call Center Outsourcing
Call Center Scheduling
Call Center Software
Call Center Solutions
Call Center Training
Call Center Workforce Management
Call Monitoring
Call Recording
Communications Enabled Business Processes
Conference Call
Conferencing
Contact Center Headsets
Contact Center Software
CRM Cloud Computing
CRM Software
CRM Solutions
DID/DDI
Digital Signage
e911
E911 Hosted Solutions
Email Archiving
Email Server
Enterprise Fax over IP
Enterprise VoIP
Ethernet Extender
Fax
Fax Over IP
FoIP
HD Conference
Hosted Contact Center
Hosted PBX
Integrated Communications
IP Fax
IP Multimedia
IP Phone Maker
IP Phone System
IP Phones
IP Transit
IVR
Lead Management Software
Master Agent
Mobile Management
Mobile Unified Communications
Mobile Video
NEBS
Network Installation
Open Source CRM
PBX PCI Adapter
Phone Systems
Portable Satellite Antenna
Predictive Dialer
Sales Software
SATCON
SIP
Speech Recognition and Text to Speech
Telecom Cost Management
Telecom Expense Management
Telecom Lifecycle Management
Telemarketing Software
Telepresence
Testing IP Services
Virtual Call Center
Virtual Office
Virtual PBX
Virtual Receptionist
Voice Broadcast
Voice Management
Voice Over IP
Voice Peering
Voicemail Replacement
VoIP Call Recording
VoIP Contact Center
VoIP Developer
VoIP Gateways
VoIP Monitoring
VoIPSwitch
Web Conferencing
Web Meeting
Wholesale VoIP
Wireless Expense Management
Wireless Management
Workforce Management
Workforce Optimization
Share
TMCnews
[September 05, 2008]

AIG Invests $38.6 Million in Brazilian Firm

(BestWire Services Via Acquire Media NewsEdge) An American International Group subsidiary has made an equity investment in a Brazilian engineering firm, the company said.

AIG Investments made a $38.6 million investment in Advento Participacoes S.A., a leading specialty engineering services provider, AIG said in a statement.

Advento will use the funding to acquire Serpal Engenharia e Construtora Ltd., a Brazilian construction company, establishing Advento as the only construction and turnkey engineering group in Brazil. Advento also controls three other engineering companies: Vecotec, Vox and Temar.



The equity investment will be funded by AIG Brazil Special Situations Fund II L.P., a private equity fund focused on direct investments primarily in Brazil, Mexico and Colombia. In April, AIG Investments closed the fund with $691.9 million in committed capital.

The Advento deal is the fourth for the BSSF II Fund, following investments in Companhia Providencia, a manufacturer of nonwoven fabrics in Latin America; Falcon Farms, an integrated grower and distributor of fresh-cut flowers with production based in Colombia, Ecuador, and Mexico; and Calyx Agro, a venture sponsored by Louis Dreyfus Commodities to acquire, develop, operate and sell agricultural land in Latin America, primarily in Brazil.



Earlier this summer, AIG Investments bought a $240-million majority stake in Calif.-based UTStarcom Inc.'s personal communications division, which distributes handsets and accessories made by itself and others to cell-phone companies (BestWire, July 8, 2008).

American International Group (NYSE: AIG) currently has a Best?s Financial Strength Rating of A+ (Superior).

Shares of AIG were selling at $21.96 in afternoon trading on Aug. 26, up 3.53% from the previous close.

(By Alyn Ackermann, senior associate editor, BestWeek: Alyn.Ackermann@ambest.com)

Copyright ? 2008 A.M. Best Company, Inc.

[ Back To TMCnet.com's Homepage ]
Discussions:
Be the first to post a comment on this page!
 
By  
TMCnet
+ Add to the Discussion
Bookmark mobile.TMCnet.com on your mobile phone now to stay on top of the latest tech news.
TMCnet Videos
Featured White Papers
Featured White Paper RSS feed
10 reasons to switch to an IP PBX
Application Whitelisting: A new security paradigm
SCADA Systems Protection
view all white papers…
Top Stories
Today's TMCnet Top Stories and News Articles
Lessons To Be Learned in Strategic Acquisitions
Sendmail, Osterman Detect E-Mail Cloud Trends
Wild for Animal Prints? Try This Flip
Separating the Sensors from the Actuators in Smart Platform Design
Remote Computer Access Now Available Via IPhone
more of today's top stories...
Related VoIP News
Latest IP Communitions and VoIP News
Sendmail, Osterman Detect E-Mail Cloud Trends
UC's Logicalis Moves Dallas Office to Plano
Nepal Satellite Telecom Selects eServGlobal for Business Models
TIO Networks Launches Real-Time Bill Payment Processing Service for Cox Communications
NextIO's IBM Cluster Solutions to Sport Virtualization Technology

Subscribe FREE to all of TMC's monthly magazines. Click here now.