Saudi’s Eye OCI Methanol Assets
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 have told Bloomberg. 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.