OCI Global announced that the regulatory review period under the U.S. Hart-Scott-Rodino Antitrust Act has concluded with respect to the sale of 100% of its equity interests in its Global Methanol Business (OCI Methanol) to Methanex Corporation (Methanex).
All regulatory approvals required for the closing of the transaction have now been obtained and the transaction is expected to close on 27 June 2025 subject to customary closing conditions.
Under the proposed transaction, Methanex will acquire 100% of the equity interests in OCI Methanol, comprising 100% of OCI's U.S. and European methanol assets.
The transaction consideration will be paid through a combination of approximately $1.2 billion of cash (taking into account net indebtedness) subject to customary closing adjustments, and the issuance of 9.9 million common shares of Methanex.
As previously announced, OCI is required to launch a tender offer for its U.S.$ 600,000,000 6.700 per cent Notes due 2033 within five business days of the successful closing of the transaction. The tender offer will be on customary terms and offer a price of 110.75% of par, plus accrued and unpaid interest.
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