The Abu Dhabi-based Alpha Dhabi Holding has said it will exit its 11% equity stake in OCI’s Global Methanol Business (known as OCI Clean Fuels Limited), following its acquisition by Canada’s Methanex.

The ADX-listed investment conglomerate said the move will be part of the transaction, which saw OCI Global sell its stake in its global methanol business to Methanex in a $2.05 billion deal.

OCI methanol unit is indirectly owned 85% by OCI and 15% by its partners, Alpha Dhabi Holding and ADQ.

OCI Global will receive a combination of $1.15 billion in cash and 9.9 million of common shares of Methanex as part of the deal, which will also make the Dutch green-fuel company the second-largest shareholder in the Canadian methanol producer with a 13% stake.

The transaction is expected to close in 2025, subject to antitrust regulatory approvals, customary closing conditions, and receipt of OCI shareholder approval.

(Writing by Bindu Rai, editing by Brinda Darasha)

bindu.rai@lseg.com