OCI trims stake in Methanex with $116.6 million share sale

OCI Global sold 2 million common shares in Methanex Corporation for approximately $116.6 million, reducing its stake in the company. The shares were sold at $58.30 each in a block trade on April 13, according to a company statement.

After the transaction, OCI’s stake in Methanex decreased from approximately 6.0% to 3.4%, leaving it with 2.6 million shares. The sale was conducted through its subsidiary, OCI Chemicals, as part of portfolio management.

OCI stated that its position in Methanex may change further based on market conditions and company performance. It may acquire additional shares or sell its remaining holdings in the future.