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Apollo Talks to Acquire Orbia’s Vinyl Business Collapse

Apollo Global Management Inc.’s talks to acquire the vinyl business of Orbia Advance Corporation SAB de CV, the conglomerate formerly known as Mexichem, have collapsed, according to people with knowledge of the matter.

The New York-based private equity firm was nearing an agreement valuing the unit at $2 billion or more before Orbia’s controlling family ended the talks, said the people, who asked not to be identified because the matter was private.