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Markets :: Basic Chemicals :: Petrochemicals :: Methanol

Methanex to sell 10% share of Egyptian jv to Apicorp for $110 million

11:05 AM MDT | October 23, 2013 | Clay Boswell

Methanex (Vancouver) on 22 October announced plans to sell a 10% equity share in Egyptian Methanex Methanol Company (EMethanex) to Arab Petroleum Investments Corp. (Apicorp; Dammam, Saudi Arabia) for $110 million. The deal, which is expected to close later this year, will increase Apicorp’s share of the joint venture to 17%, while Methanex will retain just over 50%....

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