Methanex to acquire OCI's methanol business in $2.05 bln deal (updated)

Methanex

09/09/2024 02:47

(Adds details in paragraphs 2-3; background in paragraph 4)
       Sept 8 (Reuters) - Canadian methanol producer Methanex
 MX.TO  said on Sunday it will acquire Dutch green fuel-maker
OCI Global's  OCI.AS  methanol business in a $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, it 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, it said. 
    OCI had sold its clean ammonia project in Texas to
Australia's Woodside Energy  WDS.AX  for $2.35 billion earlier
last month.  

 (Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Rashmi
Aich)
 ((Gnaneshwar.Rajan@thomsonreuters.com;))