OCI Global Announces Repurchase of OCI Methanol Minorities
AMSTERDAM, Sept. 10, 2024 /PRNewswire/ -- OCI Global (Euronext: OCI), ("OCI", the "Company"), a leading global producer and distributor of hydrogen products today announced that it has reached agreement with Alpha Dhabi Holding PJSC ("ADH") and ADQ to repurchase their 11% and 4% stakes respectively in OCI's Global Methanol Business ("OCI Methanol" or "OCI Clean Fuels Limited"). This follows the earlier announcement of the sale of OCI Methanol to Methanex Corporation ("Methanex").
OCI announced its strategic alliance and the placement of 15% of OCI Methanol with ADH and ADQ in November 2021. The partnership has advanced OCI Methanol's position as a global leader in methanol production and as a leading producer and distributor of green methanol through HyFuels, culminating in the successful sale of OCI Methanol to Methanex.
Nassef Sawiris, Executive Chairman of OCI commented: "We highly value the strategic partnership that we have had with ADH and ADQ, which has accelerated OCI Methanol's position in the hydrogen economy. We look forward to supporting future initiatives and a future collaboration."
This press release contains information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
About OCI Global
We are a global leader in nitrogen, methanol, and hydrogen, driving forward the decarbonization of the energy-intensive industries that shape, feed and fuel the world. OCI's production capacity spans four continents and comprises approximately 13.5 million metric tons per year of hydrogen-based products including nitrogen fertilizers, methanol, biofuels, diesel exhaust fluid and melamine. OCI is headquartered in the Netherlands and listed on Euronext in Amsterdam. Learn more about OCI at www.oci-global.com. You can also follow OCI on LinkedIn.
Contact Details
Sarah Rajani CFA, Vice President Investor Relations & Communications
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