Ms. Sarah Rajani of OCI reports

OCI GLOBAL RECEIVES U.S. REGULATORY APPROVAL FOR THE SALE OF ITS GLOBAL METHANOL BUSINESS TO METHANEX CORPORATION

Methanex Corp. and OCI Metanol's regulatory review period under the U.S. Hart-Scott-Rodino Antitrust Act has concluded with respect to the sale to Methanex 100 per cent of OCI's equity interests in its global methanol business. All regulatory approvals required for the closing of the transaction have now been obtained and the transaction is expected to close on June 27, 2025, subject to customary closing conditions.

transaction details

Under the proposed transaction, Methanex will acquire 100 per cent of the equity interests in OCI Methanol, comprising 100 per cent of OCI's U.S. and European methanol assets.

The transaction consideration will be paid through a combination of approximately $1.2-billion (U.S.) of cash (taking into account net indebtedness) subject to customary closing adjustments, and the issuance of 9.9 million common shares of Methanex.

2033 notes tender offer

As previously announced, OCI is required to launch a tender offer for its $600-million (U.S.) 6.700 per cent notes due 2033 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 per cent 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 Methanol

OCI Methanol is a leading methanol producer in the U.S. and through OCI HyFuels, a leading producer and distributor of green methanol today.

About Methanex Corp.

Methanex is a Vancouver-based, publicly traded company and is the world's largest producer and supplier of methanol globally.