Methanex (MEOH) said Friday it has closed its acquisition of OCI Global's international methanol business.

The deal was valued at $1.6 billion on a cash-free debt-free basis consisting of about $1.3 billion of cash and the issuance of 9.9 million Methanex common shares valued at $346 million, OCI Global said in a separate statement.

Methanex said that as part of the deal, it acquired an interest in two Texas methanol facilities, a low-carbon methanol production and marketing business, and a currently idled Netherlands methanol facility.

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