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# OCI Global agrees to $2.05 billion sale of methanol business to Methanex

Publication Date: 10.09.2024, 12:00

Deal set to close in 2025, to support significant shift in OCI’s strategic direction and to boost Methanex’s global production and low-carbon initiatives.

OCI Global has agreed to sell its global methanol business to Methanex Corporation for $2.05 billion, as part of a transaction that underscores the reshaping of OCI’s portfolio. The deal, expected to close in the first half of 2025, is subject to regulatory clearances and shareholder approvals.

The transaction involves a payment of $1.15 billion in cash, alongside the issuance of 9.9 million Methanex shares, giving OCI a 13% stake in the company. This move will make OCI the second-largest shareholder in Methanex, allowing it to benefit from potential future gains as the methanol market evolves. The sale includes OCI’s U.S. and European methanol facilities, as well as its 50% stake in Natgasoline, though the latter is pending the resolution of a legal dispute.

Methanex CEO Rich Sumner highlighted the strategic value of the acquisition, noting that it will boost Methanex’s global methanol production by over 20%. The deal, he added, aligns with the company’s broader goals of strengthening its production base and driving operational efficiencies, particularly benefiting from North America’s cost-competitive natural gas supply.

From OCI’s perspective, the sale forms part of a broader divestment strategy that could generate $11.6 billion in proceeds, providing the company with substantial financial flexibility. Executive Chairman Nassef Sawiris expressed confidence in Methanex as a natural fit for OCI’s assets, citing the company’s operational strength and commitment to sustainable growth.

For Methanex, the transaction marks a step toward expanding its presence in the low-carbon methanol market and diversifying into ammonia production—a complementary segment with significant growth potential in the transition to cleaner energy sources.

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