Vision Capital Buys BOPP Maker Vitopel; ExxonMobil May Exit the Business

Private equity firm Vision Capital (London) has acquired Vitopel (Buenos Aires), a leading producer of biaxially oriented polypropylene (BOPP) film with plants in Argentina and Brazil, from DLJ Merchant Banking Partners and JPMorgan. Financial terms were not disclosed but the deal includes a debt restructuring led by existing Vitopel creditors Credit Suisse and Santander, which will continue as lenders to the company.   Vitopel operates plants at Cordoba, Argentina and Maua and Votorantim, Brazil with combined capacity for 127,000 m.t./year, ranking it among...

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