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Chemical Week Magazine :: Newsbriefs
OCI plans IPO for US methanol unit
6:28 AM MDT | June 7, 2013
Orascom Construction Industries (OCl; Cairo) will place its Beaumont, TX, methanol and ammonia facility into a master limited partnership (MLP) in order to sell a minority stake in the operation via an initial public offering (IPO), the company announced 3 June. OCI expects the MLP to file a registration statement in June with the IPO to follow in the second half of 2013. Proceeds from the IPO will be used to repay the MLPâ€™s outstanding debt and to fund a planned debottlenecking project, OCI said. MLPs do not pay corporate income tax if they receive at least...
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