Business
OCI Global Completes Sale of OCI Methanol to Methanex Corporation
OCI Global (Euronext: OCI), ("OCI", the "Company") is pleased to announce the successful closing of the divestment of 100% of its equity interests in its Global Methanol Business ("OCI Methanol") to Methanex Corporation (TSX: MX) (Nasdaq: MEOH) ("Methanex"), (the "Transaction") previously announced on 9 September 2024, following satisfaction of all closing conditions, including receipt of the required regulatory and shareholder approvals.
About this update from Methanex Corporation
[{"type":"list","items":[{"val":[{"type":"text","content":"OCI Global ("OCI") announces successful completion of the sale of 100% of its equity interests in its Global Methanol Business ("OCI Methanol") to Methanex Corporation (TSX: MX) (Nasdaq: MEOH) ("Methanex"), (the "Transaction).","length":261,"tagName":"p"}]},{"val":[{"type":"text","content":"The Transaction was valued at USD 1.6 billion on a cash-free debt-free basis comprising approximately USD 1.3 billion of cash, and the issuance of 9.9 million common shares of Methanex ("Methanex Shares"), valued at USD 346 million.","length":242,"tagName":"p"}]},{"val":[{"type":"text","content":"OCI intends to launch the tender offer for its USD 600 million 6.700 per cent Notes due 2033 within five business days of the closing of the Transaction.","length":153,"tagName":"p"}]},{"val":[{"type":"text","content":"OCI intends to return a further up to USD 1 billion through multiple channels of distribution during 2025 and early 2026.","length":121,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":777,"olType":false},{"type":"text","content":"AMSTERDAM, June 28, 2025 /PRNewswire/ -- OCI Global (Euronext: OCI), ("OCI", the "Company") is pleased to announce the successful closing of the divestment of 100% of its equity interests in its Global Methanol Business ("OCI Methanol") to Methanex Corporation (TSX: MX) (Nasdaq: MEOH) ("Methanex"), (the "Transaction") previously announced on 9 September 2024, following satisfaction of all closing conditions, including receipt of the required regulatory and shareholder approvals.","length":533,"tagName":"p"},{"type":"text","content":"Nassef Sawiris, Executive Chairman of OCI commented on the announcement: "The successful closing of the Methanol transaction, alongside the full repayment of our bond and bank debt and a further planned return of capital to shareholders, marks a key step in OCI's ongoing evolution. It demonstrates the strength of our portfolio and our ability to execute value-accretive transactions while maintaining financial discipline. Including the proposed USD 1 billion distribution, we will have returned over USD 7.4 billion to shareholders since 2021, reflecting our continued focus on delivering shareholder value."","length":625,"tagName":"...