Methanex Corporation (MX.TO)
- Zacks
Methanex Expands With the $2B Acquisition of OCI's Methanol Business
MEOH acquires OCI's methanol business for $2.05 billion, boosting global production and entering the ammonia market.
- Reuters
Methanex to acquire OCI's methanol business in $2.05 billion deal
The deal includes $1.15 billion in cash, the issuance of 9.9 million shares of Methanex valued at $450 million, the methanol producer said, adding that it is taking on about $450 million in debt and leases. OCI will become the second-largest shareholder of Methanex, with about 13% of the company, OCI said in a separate statement, adding that the deal is expected to close in the first half of 2025. The divestment of OCI's stake in the methanol business will increase the gross proceeds of its assets to $11.6 billion, it added.
- GlobeNewswire
Methanex Corporation Signs Definitive Agreement to Acquire OCI Global’s International Methanol Business for $2.05 Billion
Except where otherwise noted, all currency amounts are stated in United States dollars. Unique opportunity to acquire world-scale producing methanol assets with access to robust North American natural gas feedstock Aligns with Methanex’s strategic priorities and value-creation strategyAcquisition expected to be immediately accretive to free cash flow per share OCI to hold a 13 percent ownership interest upon closing VANCOUVER, British Columbia, Sept. 08, 2024 (GLOBE NEWSWIRE) -- Methanex Corpora
