Methanex set to close OCI Global methanol deal on June 27
Methanex has obtained all necessary regulatory approvals, including under the US Hart-Scott-Rodino Act, to proceed with its acquisition of OCI Global's international methanol business. The transaction is expected to close on June 27, 2025, subject to customary closing conditions. Methanex plans rapid integration to unlock strategic value and welcomes new team members to the company.
"We are pleased to have received regulatory clearance and look forward to closing the transaction and welcoming new team members to Methanex." said Rich Sumner, President and CEO of Methanex. "Given our extensive integration planning, we expect to move quickly upon closing to deliver the strategic benefits of this acquisition."
Methanex is a Vancouver-based, publicly traded company and is the world's largest producer and supplier of methanol globally. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol 'MX' and on the Nasdaq Stock Market in the United States under the trading symbol 'MEOH'. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (HU)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
a minute ago
- Economic Times
Lawyer argues Meta can't be held liable for gunmaker's Instagram posts in Uvalde families' lawsuit
Reuters A lawsuit filed by families of the Uvalde school shooting victims alleging Instagram allowed gun manufacturers to promote firearms to minors should be thrown out, lawyers for Meta, Instagram's parent company, argued children and two teachers were killed in the May 2022 shooting at Robb Elementary School in Uvalde, families sued Meta in Los Angeles in May 2024, saying the social media platform failed to enforce its own rules forbidding firearms advertisements aimed at minors. The families, who were present at last month's hearing, did not appear in court, with a lawyer citing the back-to-school season. Many plaintiffs attended the hearing virtually, he one ad posted on Instagram, the Georgia-based gunmaker Daniel Defense shows Santa Claus holding an assault rifle. In another post by the same company, a rifle leans against a refrigerator, with the caption: 'Let's normalize kitchen Daniels. What Daniels do you use to protect your kitchen and home?'The lawsuit alleges those posts are marketed toward minors. The Uvalde gunman opened an online account with Daniel Defense before his 18th birthday and purchased the rifle as soon as he could, according to the lawsuit. He also owned various Instagram accounts and had an 'obsessive relationship' with the platform, at times opening the app more than 100 times a day, plaintiffs' lawyers found in an analysis of the shooter's say minors can access gun content on InstagramMeta attorney Kristin Linsley argued that the families provided no proof that minors, including the Uvalde gunman, even read the Daniel Defense posts on Instagram. She also said the posts didn't violate Meta's policies because they weren't direct advertisements and did not include links to purchase any Mesner-Hage, representing the victims' families, said the defense's claim is 'fundamentally unfair,' as the plaintiffs don't have access to Meta data that would indicate whether the shooter encountered those posts. She added that if the content had landed on the shooter's feed, as the plaintiffs allege, then Meta 'not only knew about it, they designed the system so it would be delivered to him.''They knew more about him than anyone else on the planet,' she said content advertising firearms for sale on Instagram is allowed if posted by 'brick-and-motor and online retailers,' but visibility of those posts was restricted for minors under Meta's advertising policies from the end of 2021 to October 2022.'This is not a playbook for how to violate the rules. This is actually what the rules are,' Linsley plaintiff's team, however, showed a fake profile they created for a 17-year-old boy earlier this month, through which they were able to search Daniel Defense's Instagram account and see a post that included a picture of a gun, as well as a link to the gun manufacturer's the link was clicked, the gun-maker's website opened, and the team was able to select a firearm and add it to their cart, all within Instagram's app — an experiment that refutes Meta's assertion that posts relating to firearms aren't visible to users under 21, Mesner-Hage said in her rebuttal that the experiment was done this year and not in 2021 to 2022, which is when the policy she described was in families have also sued Daniel Defense and video game company Activision, which produces 'Call of Duty.'Case hinges on social media's responsibility for content creation Linsley said the Communications Decency Act allows social media platforms to moderate content without being treated as publishers of that content. "The only response a company can have is to not have these kinds of rules at all," Linsley said. 'It just gets you down a rabbit hole very quickly.'Mesner-Hage argued Meta is not protected by the act because social media platforms don't just host speech, but help curate it through its algorithms. Daniel Defense, she said, didn't have to pay for ads to get free access to Meta's analytical data through its business account on Instagram. That data shows the company which age bracket and gender engaged most with a specific post.'Daniel Defense is not on Instagram to make friends. ... They're on there to promote their product,' Mesner-Hage said. 'It's not a paid advertisement, but I would struggle to describe this as anything other than an advertisement.'The lawsuit alleges that firearm companies tweaked their online marketing to comply with Meta's policies, including by avoiding the words 'buy' or 'sell' and not providing links to purchase, and that the social media company did not protect users against such month, lawyers for Activision also argued that legal proceedings against them should be thrown out, saying the families allegations are barred by the First Amendment. The families alleged that the war-themed video game Call of Duty trained and conditioned the Uvalde gunman to orchestrate his for the plaintiffs asked the judge to allow them to amend their lawsuit with the new information they presented Tuesday before ruling on the defense's motion. The defense claimed that was unnecessary, as the case would not have merit even with the judge has yet to rule on Activision's motion and did not immediately rule on the Meta case. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Swiggy, Tencent backer Prosus adds Rajnikanth fan to script India AI-commerce play India's F&O boom puts spotlight on retail protection through education Can new shipping laws bury the ghost of British legacy? As big fat Indian wedding slims to budget, Manyavar loses lustre Stock Radar: Bajaj Auto showing signs of reversal after falling over 30% from highs; medium term should 'buy the dip' F&O Radar | Deploy Bull Call Ladder in JSW Steel stock to benefit from bullish outlook Time for risk-takers to come out of hibernation? 5 mid-cap stocks from different sectors with an upside potential of up to 27% Buy, Sell or Hold: Motilal Oswal initiates coverage on JSW Cement; Emkay Global sees over 30% upside in Gravita India
News18
27 minutes ago
- News18
Sebi Mulls Intraday Trading Cap On Weekly Options Expiry
The Mint report stated that a committee has been set up to discuss this limit, saying surveillance measures like imposing a penalty on clients who routinely exceed the intraday limits were discussed. The development comes after the regulator cracked down on US-based high-trading firm Jane Street Group for alleged manipulation of Bank Nifty and Nifty. As of now there is no intraday limit, though clients should not cross a Rs 1500 crore end of the day on a net basis and Rs 10,000 crore on a gross level. A broker familiar with the committee's deliberations told Mint that while most clients follow end-of-day limits on non-expiry days, they tend to exceed these caps on expiry days, as contracts lapse by market close and the restriction becomes irrelevant. 'The proposal may have been discussed to curb the frenzy typically seen on expiry days," he noted. In another news, Sebi on Monday proposed a phased approach to restructuring existing equity indices that are linked to derivatives contracts to prevent market manipulation. According to Reuters report, the proposal seeks to restructure three indices of banking stocks – NSE's Nifty Bank, BSE's Bankex, and Nifty Financial Services.
Mint
31 minutes ago
- Mint
JSW Group doubles down on auto biz with $115mn fund infusion in Own Brand, eyes $300mn fundraise for MG JV
New Delhi: Mumbai-based corporate behemoth JSW Group, known more for its large businesses across steel, energy, cement and infrastructure, is stepping up investments in its nascent mobility business — in both its wholly owned automobile arm JSW Green Mobility and in JSW MG Motor India, a joint venture with China's SAIC. In July, the Sajjan Jindal-led conglomerate pumped in $115 million into JSW Green Mobility, filings with the ministry of corporate affairs showed. The company raised the funds by issuing optionally convertible debentures (OCDs) worth ₹1,000 crore to JSW Projects, which is promoted by the Jindal family. The board of JSW Green Mobility approved the issuance of OCDs to raise up to ₹1,000 crore 'to utilise the proceeds for the purpose of investment in subsidiary(ies) and/or other group companies, capital expenditure and general corporate purposes including repayment of debt and interest", the MCA filing said. At the same time, the group is seeking up to $300 million from external investors for MG Motor India, which currently sells the group's vehicles in the country (the in-house brand is yet to launch its first vehicle). Nearly 14 funds have expressed interest in the funding, and a final call on whether to bring in new investors in MG Motor will be taken next month, when a board meeting takes place with SAIC, according to a person directly aware of the matter. 'The discussions are ongoing between the two partners. A board meeting is coming up in September, and that's when they will decide. The company is waiting to see when to do it as they are not in a hurry," this person said on condition of not being named. A JSW Group spokesperson said the group keeps evaluating strategic investment opportunities across its businesses: 'While we do not comment on specific funding structures beyond what is available in statutory filings, we can confirm that all such transactions are in compliance with applicable laws." Regarding JSW MG Motor India, the spokesperson declined to comment on 'speculations regarding potential fundraise, investors or board-level deliberations. We will make appropriate disclosures in accordance with regulatory requirements". Notably, all vehicles under the JSW banner—current and planned—are likely to be electric vehicles and hybrid vehicles. While JSW Green Mobility doesn't have a model yet, it is developing four—including both passenger vehicles and commercial vehicles. The models are being developed by two of its subsidiaries—JSW Motors Limited (passenger vehicles) and JSW Greentech Limited (commercial vehicles). The company spokesperson declined to comment on specific timelines for their launch, saying they 'will be shared at the appropriate stage". However, according to the person cited earlier, the first of these models is likely to be launched in the next financial year, and will be rolled out from a fresh plant that is taking shape in Chhatrapati Sambhajinagar in Maharashtra. The group's second automobile business is through its joint venture with SAIC, MG Motor India. In March 2024, a JSW Group-led consortium picked up 51% stake in the company as the Chinese company faced hurdles in investing due to restrictions imposed by the Indian government. The investment in MG Motor marked JSW Group's foray into the automobile sector but in December, group chairman Sajjan Jindal expressed ambitions to launch its own EV brand. 'Our idea is not to be an outpost of a Chinese company to sell products in India," Jindal told theFinancial Timesin December. 'We want to manufacture the products in India, value-add in India, and sell in India." According to Puneet Gupta, director at S&P Global Mobility, JSW Group has gained critical insights into the EV business through its entry with MG Motor India. 'They may now have more calibrated and reasonable expectations on speed to market, sales and profits. For a newcomer like JSW, this is the right moment to step in, as most companies are still early in the EV race and market positions can shift quickly," he explained. Gupta added that MG Motor's rapid climb to the No. 2 spot in the EV space with its Windsor model proves how fast the EV market can be shaken up. The top passenger EV seller in India is Tata Motors, which sold over 16,000 EVs at the end of the first quarter of this fiscal. MG Motor has sold nearly 12,000 EVs — including Windsor, ZS EV and Comet. Analysts note that EV adoption in passenger vehicles has not grown at a rapid pace, with penetration below 3% in FY25. Over 107,000 electric passenger vehicles were sold that year. Nonetheless, competition in the segment is rising. The country's largest passenger vehicle company – Maruti Suzuki – and other top brands such as Hyundai Motor India, Mahindra & Mahindra, and Tata Motors are all ramping up their presence in the clean cars segment.
