Methanex closes agreement with Mitsui O.S.K. Lines for the sale of an equity position in Waterfront Shipping, and establishing a strategic partnership
February 1, 2022
144.80 Million USD
On February 1, 2022, Methanex Corporation ("Methanex") closed the sale of a 40 percent minority interest in its subsidiary, Waterfront Shipping (WFS) to Mitsui O.S.K. Lines, Ltd. for US$144.8 million. Methanex will retain the remaining 60 percent majority interest in WFS. Both entities also announced the establishment of a strategic partnership for the purposes of leveraging the shipping experience of Mitsui O.S.K. Lines.
Methanex is the world’s largest producer and supplier of methanol to major international markets in North America, Asia Pacific, Europe and South America.
Mitsui O.S.K. Lines, Ltd., founded in 1884, is one of the largest shipping companies in the world, headquartered in Tokyo, Japan.
McCarthy Tétrault advised Methanex with a team led by Robin Mahood that included Leisa Hickey, Xinya Wang, Kara Bodie (Corporate), Linda Brown, Genevieve Loxley (Financial Services), Kim Brown (Tax), and Brian Lipson (Transportation).