Methanex Corporation announced that it has completed the previously announced acquisition of OCI Global’s (OCI) international methanol business.
As part of the transaction, first announced in September 2024, Methanex has acquired an interest in i) two world-scale methanol facilities in Beaumont, Texas, which have access to robust North American natural gas feedstock and one of which also produces ammonia, ii) a low-carbon methanol production and marketing business, and iii) a currently idled methanol facility in the Netherlands. The transaction consideration consists of approximately $1.2 billion of cash, excluding adjustments to working capital and cash acquired, the issuance of approximately 9.9 million common shares of Methanex and the assumption of approximately $450 million in debt and leases.
“We are excited to complete this important strategic acquisition and to welcome a talented team to Methanex,” said Rich Sumner, President and CEO of Methanex. “I want to thank the individuals that worked diligently to successfully close this acquisition. As we move forward, our focus is on ensuring a smooth integration, maintaining safe and stable operations, and delivering the strategic benefits of this acquisition.”
In connection with the transaction, Methanex has filed a base shelf prospectus with the securities regulatory authority in the Province of British Columbia in accordance with a customary registration rights agreement entered into between Methanex and OCI. The prospectus will also be filed with the U.S. Securities and Exchange Commission as part of a registration statement on Form F-10 in accordance with the Multijurisdictional Disclosure System established between Canada and the United States.
