Skip to content

Methanex buying OCI Global's international methanol business in US$2.05B deal

d68ee64d74ef65f365a35a9e6a002885cd7e165e01fdb693f3449c6ff9d2b88a
Methanex Corp. logo is shown in a handout.The company has signed a deal to buy OCI Global's international methanol business in an agreement valued at US$2.05 billion, including assumed debt.THE CANADIAN PRESS/HO

VANCOUVER — Methanex Corp. has signed a deal to buy OCI Global's international methanol business in an agreement valued at US$2.05 billion, including assumed debt.

The deal includes OCI’s interest in two methanol facilities in Beaumont, Texas, one of which also produces ammonia.

It also includes a low-carbon methanol production and marketing business and an idled methanol facility in the Netherlands.

Under the agreement, Methanex will pay OCI US$1.15 billion in cash, issue the company 9.9 million Methanex common shares valued at US$450 million and assume US$450 million in debt and leases.

OCI will own about a 13 per cent stake in Methanex once the transaction is complete.

The deal is subject to approval by OCI shareholders and regulators, as well as other closing conditions. It is expected to close in the first half of 2025.

This report by The Canadian Press was first published Sept. 9, 2024.

Companies in this story: (TSX:MX)

The Canadian Press


Looking for National Business News?

VillageReport.ca viewed on a mobile phone

Check out Village Report - the news that matters most to Canada, updated throughout the day.  Or, subscribe to Village Report's free daily newsletter: a compilation of the news you need to know, sent to your inbox at 6AM.

Subscribe