Twitter LinkedIn
    Wednesday, May 25
    Login
    0 Shopping Cart
    Twitter LinkedIn
    Private Equity InsiderPrivate Equity Insider
    • About Us
    • Digital Events
    • Our Network
      • Reach
      • Sponsors
      • Members
    Private Equity InsiderPrivate Equity Insider
    Home»Deals & Transactions»Apollo Is in Advanced Talks to Buy Orbia’s Vinyl Unit
    Deals & Transactions

    Apollo Is in Advanced Talks to Buy Orbia’s Vinyl Unit

    January 8, 20212 Mins Read
    LinkedIn Facebook Twitter Email WhatsApp
    Share
    LinkedIn Facebook Twitter Email WhatsApp

    Transaction would value chemical maker at $2 billion or more. Buyout firm deal could be announced as soon as this month.

    Apollo Global Management Inc. is nearing a deal to buy the vinyl business of Orbia Advance Corporation SAB de CV, the conglomerate formerly known as Mexichem, according to people with knowledge of the matter.

    An agreement valuing the unit at $2 billion or more could be announced as soon as this month, said the people, who asked not to be identified because the talks were private.

    A final agreement hasn’t been reached and negotiations could still end without a sale, the people said.

    A representative for Orbia didn’t immediately respond to a request for comment. A spokesperson for Apollo declined to comment.

    Bloomberg News reported last January that Orbia was exploring a sale of the unit.

    Mexico City-based Orbia had also received interest in the unit from Ineos Group and Westlake Chemical, Bloomberg News reported. Oriba hired an adviser in 2019 to look at options for the unit as part of its continued shift away from chemicals and toward businesses focused on agriculture, water and infrastructure, people familiar with the matter have said.

    Orbia’s vinyl unit creates compounds used in industries including construction, manufacturing and consumer goods. Apollo has a long history of buying chemical companies, including plastics maker Lyondell. Apollo made more than $9 billion on Lyondell, among the largest returns ever by a private equity firm on a single investment.

    Source: Bloomberg

    Related

    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

    Acquisitions Buyouts deals Investments Transactions
    Share. LinkedIn Facebook Twitter Email WhatsApp

    Related Posts

    KKR-Backed UK Startup Paddle Strikes $200 Million Deal

    May 25, 2022

    Investcorp to invest $400 mn Indian schooling infra

    May 24, 2022

    KKR Leads $200+ Million Growth Investment in Enterprise Identity Protection Leader Semperis

    May 24, 2022

    Vista Equity Partners Among the First Major U.S. Private Equity Firms to Advance Global ESG Strategy with Portfolio-Wide Participation in Climate Program

    May 23, 2022

    Comments are closed.

    Other Articles

    Carlyle raises USD4.6bn for second credit opportunities fund

    April 7, 2022

    Foxconn to start $8 bln investment in Indonesia EV sector in Q3

    February 9, 2022

    Baring Private Equity Asia backed TELUS International files for IPO on NYSE and TSX

    January 10, 2021

    New Zealand Rugby seals deal with US private equity firm

    February 17, 2022

    Private Equity Insider LLC
    1212 Avenue of the Americas
    New York City 10036
    USA

    [email protected]

    Twitter LinkedIn
    © 2022 Private Equity Insider LLC. All rights reserved.
    • About
    • Terms of Use
    • Cookie Policy
    • Privacy Policy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.

    View Cart Checkout Continue Shopping

    Sign In or Register

    Welcome Back!

    Login to your account below.

    Lost password?