Methanex Corporation (Methanex or the Company) (TSX:MX) (NASDAQ:MEOH) announced that it has entered into a definitive agreement to acquire OCI Global’s (OCI) international methanol business for US$2.05 billion.
Under a definitive agreement with OCI, the US$2.05 billion purchase price will consist of US$1.15 billion in cash, the issuance of 9.9 million common shares of Methanex valued at US$450 million (based on a US$45 per share price) and the assumption of US$450 million in debt and leases. Methanex intends to fund the cash consideration of the transaction through a combination of cash on hand and new debt issuances. The Company has obtained a fully committed debt financing package from the Royal Bank of Canada (RBC) to support the transaction.
Latham & Watkins LLP represents RBC and RBC Capital Markets in the financing commitment with an Austin-based team led by partners David Miller, Michael Chambers, and Sam Rettew, with associates Erin Cusenbary and Carol Bale. Advice was also provided on environmental matters by Los Angeles/Houston partner Joshua Marnitz.
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.From Legal Desire
Is your firm the one being cited, or the one being skipped?
We ran the test. On several everyday legal questions, software companies are answering and law firms are not. We help firms fix that, and we build the technology behind the practice.
The advising firms, the named deal team, the value and the parties, with every other announced deal by the same firms and lawyers. Open the deal record
