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

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.