Saudis Weigh $4 Billion Deal for OCI Methanol Assets - Bloomberg:
Saudi Basic Industries Corp., the Middle East’s biggest petrochemicals maker, is exploring an acquisition of OCI NV’s methanol assets that would solidify its status as one of the world’s biggest producers of the chemical, people familiar with the matter said.
The Saudi Arabian company has made an initial approach that valued OCI’s assets, which include plants in Texas and the Netherlands, at as much as $4 billion, the people said, asking not to be identified because the discussions are private. Preliminary discussions between Sabic, as the state-controlled firm is known, and OCI may not lead to an agreement, they said.
OCI said in a statement Monday that it had received “inbound interest” for its methanol assets, without naming the party, and said it hasn’t made a decision. The Amsterdam-based company didn’t provide any additional information. A representative for Sabic declined to comment.
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