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Globe and Mail
2 days ago
- Business
- Globe and Mail
Methanex Corporation Receives Regulatory Approval for the Acquisition of OCI Global's Methanol Business
VANCOUVER, British Columbia, June 12, 2025 (GLOBE NEWSWIRE) -- Methanex Corporation (TSX:MX) (Nasdaq:MEOH) announced today that the regulatory review period under the U.S. Hart-Scott-Rodino Antitrust Act has lapsed. Accordingly, all regulatory approvals required for Methanex to close its previously announced acquisition of OCI Global's international methanol business have been obtained. The transaction is expected to close on June 27, 2025, and remains subject to the satisfaction of customary closing conditions. "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'. Methanex can be visited online at Inquiries Sarah Herriott Director, Investor Relations Methanex Corporation 604-661-2600 or Toll Free: 1-800-661-8851 Forward Looking Statements This First Quarter 2025 Management's Discussion and Analysis ("MD&A") as well as comments made during the First Quarter 2025 investor conference call contain forward-looking statements with respect to us and our industry. These statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. Statements that include the word "expects," or other comparable terminology and similar statements of a future or forward-looking nature identify forward-looking statements. More particularly and without limitation, any statements regarding the following are forward-looking statements: anticipated closing date of the OCI acquisition and the expected benefits of the OCI acquisition, including benefits related to expected synergies and commodity diversification, anticipated synergies and Methanex's ability to achieve such synergies following closing of the OCI acquisition, and expected increase in methanol production of assets to be acquired as part of the OCI acquisition. We believe that we have a reasonable basis for making such forward-looking statements. The forward-looking statements in this document are based on our experience, our perception of trends, current conditions and expected future developments as well as other factors. Certain material factors or assumptions were applied in drawing the conclusions or making the forecasts or projections that are included in these forward-looking statements, including, without limitation, future expectations and assumptions concerning the following: future expectations and assumptions concerning the receipt of all regulatory approvals required to complete the OCI acquisition, and Methanex's ability to realize the expected strategic, financial and other benefits of the OCI acquisition in the timeframe anticipated or at all. However, forward-looking statements, by their nature, involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. The risks and uncertainties primarily include those attendant with producing and marketing methanol and successfully carrying out major capital expenditure projects in various jurisdictions, including, without limitation: failure to complete the OCI acquisition in accordance with the material terms of the OCI acquisition agreement or at all, failure to close the OCI acquisition credit facility, unforeseen difficulties in integrating the business operations or assets purchased pursuant to the OCI acquisition into our business and operations, failure to realize the expected strategic, financial and other benefits of the OCI acquisition in the timeframe anticipated or at all, and unexpected costs or liabilities associated with the OCI acquisition. Having in mind these and other factors, investors and other readers are cautioned not to place undue reliance on forward-looking statements. They are not a substitute for the exercise of one's own due diligence and judgment. The outcomes implied by forward-looking statements may not occur and we do not undertake to update forward-looking statements except as required by applicable securities laws.
Associated Press
2 days ago
- Business
- Associated Press
OCI Global Receives U.S. Regulatory Approval for the Sale of its Global Methanol Business to Methanex Corporation
AMSTERDAM, June 12, 2025 /CNW/ -- OCI Global (Euronext: OCI), ('OCI', the 'Company') today announced that the regulatory review period under the U.S. Hart-Scott-Rodino Antitrust Act has concluded with respect to 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'). All regulatory approvals required for the closing of the Transaction have now been obtained and the Transaction is expected to close on 27 June 2025 subject to customary closing conditions. Transaction details 2033 Notes Tender offer As previously announced, OCI is required to launch a tender offer for its U.S.$ 600,000,000 6.700 per cent Notes due 2033 (the 'Bonds') within five business days of the successful closing of the Transaction. The tender offer will be on customary terms and offer a price of 110.75% of par, plus accrued and unpaid interest. This press release contains or may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. About OCI Global Learn more about OCI at You can also follow OCI on LinkedIn. About OCI Methanol OCI Methanol is a leading methanol producer in the US and through OCI HyFuels, a leading producer and distributor of green methanol today. OCI Methanol's total productive capacity comprises the following assets: OCI Methanol's assets are in highly strategic and developed market locations across the United States and Europe with extensive distribution and storage capabilities near major industrial demand centres and key bunkering hubs. The assets in the United States have access to stable and low-cost USGC natural gas, enabling first quartile cost curve positions. OCI HyFuels is a pioneering first-mover in providing the road, marine, power, and industrial sectors with renewable and low-carbon fuel alternatives to meet evolving regulatory requirements. The business includes the production and distribution of green methanol, bio-MTBE, renewable natural gas, and ethanol. Methanol and ammonia are key enablers of the hydrogen economy and the most logical hydrogen fuels, key to decarbonizing hard to abate industries including marine. About Methanex 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.' Methanex can be visited online at View original content: SOURCE OCI Global
Korea Herald
22-05-2025
- Business
- Korea Herald
OCI Global Q1 2025 Trading Update
AMSTERDAM, May 22, 2025 /PRNewswire/ -- Hassan Badrawi, CEO of OCI Global: "OCI entered 2025 with positive momentum, following a year marked by significant portfolio changes. In the first quarter, we delivered on key transaction milestones, including the resolution of the previously disclosed dispute with our Natgasoline joint venture partner Proman regarding the sale of OCI Methanol to Methanex, as well as substantial progress on the construction of the Beaumont New Ammonia plant, scheduled for completion later this year. Operationally, our European portfolio performed well during the period, despite planned shutdowns at certain assets. In line with our approach to disciplined capital returns, OCI distributed USD 1.0 billion to shareholders in May, bringing cumulative distributions to USD 6.4 billion over the past four years. OCI continues to prioritize shareholder value whilst preserving capital allocation flexibility and strategic optionality. Any future extraordinary cash distributions will be determined based on transaction progress, the ongoing strategic review, and Board approval. As part of our ongoing transformation, OCI also secured a binding support agreement with a large group of bondholders regarding the treatment of the 2033 bonds, pending completion of the Methanol sale. This will facilitate an orderly pay down of OCI's capital structure following the closing of the transaction. Looking ahead, our main priorities are to complete the construction and handover of Beaumont New Ammonia, and to close the Methanol transaction as planned in Q2 2025. With a simplified corporate structure, a stable balance sheet, and a competitive European nitrogen platform, OCI is well-placed to execute on its current objectives and to support value creation." Continuing Operations, as presented in this trading update, reflect the performance of the European Nitrogen segment. Further to the announcement of the expected divestiture of OCI's equity holdings in OCI Methanol, this segment is classified as Discontinued Operations. Notes This report contains unaudited first quarter highlights of OCI Global ('OCI,' 'the Group' or 'the Company'), a public limited liability company incorporated under Dutch law, with its head office located at Honthorststraat 19, 1071 DC Amsterdam, the Netherlands. OCI Global is registered in the Dutch commercial register under No. 56821166 dated 2 January 2013. The Group is primarily involved in the production of nitrogen-based fertilizers and industrial chemicals. The reported data in this report have not been audited by an external auditor. Market Abuse Regulation
Korea Herald
16-04-2025
- Business
- Korea Herald
OCI GLOBAL CONFIRMS EURO EQUIVALENT DETAILS FOR Q2 2025 EXTRAORDINARY DISTRIBUTION
AMSTERDAM, April 16, 2025 /PRNewswire/ -- OCI Global (Euronext: OCI) ("OCI" or the "Company") today confirms that further to its announcement to pay an extraordinary cash distribution of USD 4.74 per share (USD 1.0 billion in total) on or around 7 May 2025, the Euro equivalent amount for those shareholders that elect for payment in EUR instead of USD will be determined using the appropriate exchange rate on 6 May 2025. The Company will make a distribution in USD unless the relevant shareholder has opted for a distribution in EUR.
Associated Press
16-04-2025
- Business
- Associated Press
OCI GLOBAL CONFIRMS EURO EQUIVALENT DETAILS FOR Q2 2025 EXTRAORDINARY DISTRIBUTION
AMSTERDAM, April 16, 2025 /PRNewswire/ -- OCI Global (Euronext: OCI) ('OCI' or the 'Company') today confirms that further to its announcement to pay an extraordinary cash distribution of USD 4.74 per share (USD 1.0 billion in total) on or around 7 May 2025, the Euro equivalent amount for those shareholders that elect for payment in EUR instead of USD will be determined using the appropriate exchange rate on 6 May 2025. The Company will make a distribution in USD unless the relevant shareholder has opted for a distribution in EUR. About OCI Global Learn more about OCI at You can also follow OCI on LinkedIn. View original content: SOURCE OCI Global
