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Methanex to sell 10% share of Egyptian JV to Apicorp

7:43 AM MDT | October 28, 2013

Methanex: Deal will increase Apicorp’s share of the joint venture to 17%. Methanex (Vancouver, BC) on 22 October announced plans to sell a 10% equity share in Egyptian Methanex Methanol Co. (EMethanex) to Arab Petroleum Investments Corp. (Apicorp; Ad Dammām, 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%. “The transaction aligns with Apicorp’s investment strategy, and EMethanex will benefit from...

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