Date Announced

September 8, 2024

Lead Office

Vancouver

Value

2.05 Billion USD

On September 8, 2024, Methanex Corporation ("Methanex") announced that it had entered into a definitive agreement to acquire OCI Global's ("OCI") international methanol business for US$2.05 billion. The transaction encompasses OCI's stake in two large-scale methanol plants located in Beaumont, Texas, with one of these plants also producing ammonia. Additionally, the agreement covers a low-carbon methanol production and marketing business, as well as a currently inactive methanol facility in the Netherlands. Upon completion of the deal, Methanex expects to increase its methanol production by over 20 percent with the acquisition of the two new plants in Beaumont.

Methanex, headquartered in Vancouver, British Columbia, is the world’s largest producer and supplier of methanol to major international markets in North America, Asia Pacific, Europe and South America.

OCI, headquartered in Amsterdam, Netherlands, is a leading global producer and distributor of nitrogen, methanol, and hydrogen products. OCI focuses on advancing decarbonization of energy-intensive industries, aiming to make transportation cleaner, products greener, and agriculture more sustainable.  

McCarthy Tétrault is advising Methanex with a team led by Robin Mahood that includes Farhiyah Shariff, Michael Bennett, James Lin, Geena Lee, Dinah Holliday, Rebecca Ferguson and Matthew Yensen (Business), Linda Brown, Liezl Behm and Jenna Clark (Financial Services), and Vincent Yip and Jeff Sun (Intellectual Property).