Nassef Sawiris-backed OCI exits Methanex stake, nets $370 million from share sales

OCI Global, the nitrogen and chemicals group controlled by Egyptian billionaire Nassef Sawiris, has fully exited its stake in Methanex Corporation after a phased sell-down that generated more than $370 million. The Amsterdam-listed firm sold its remaining 2.61 million shares on April 20 for $138.1 million, marking the final step in a broader divestment strategy.

The transaction ends OCI’s exposure to Methanex, with the company no longer holding any shares or voting interest. The move reflects a disciplined capital allocation strategy as OCI pivots toward its core nitrogen business.

Phased sell-down unlocks value

The latest sale follows two earlier disposals in April. On April 13, OCI offloaded 2 million shares at $58.30 each, generating $116.6 million, reducing its stake from 6% to 3.4%. Days earlier, on April 9, the group sold another 2 million shares at $57.65 apiece for $115.3 million, trimming its holding from 8.6% to 6%.

The staggered transactions highlight OCI’s strategy of capitalizing on improved trading volumes and favorable market pricing to gradually monetize its Methanex position.

Portfolio reset gains momentum

OCI’s exit comes amid a broader strategic overhaul aimed at streamlining operations and sharpening its focus on core nitrogen assets. The company had earlier flagged its intention to consider opportunistic share sales following a surge in Methanex trading activity after its March 2026 earnings release.

The divestment also builds on a landmark $2.05 billion sale of OCI’s global methanol business to Methanex in 2025. As part of that transaction, OCI retained an equity stake, providing temporary exposure to the methanol market while preserving flexibility for future monetization.

Strong financial footing amid transition

Under the visionary leadership of Nassef Sawiris, who holds a significant 49.07% stake equivalent to 104,003,478 shares in the group. This is currently worth €376.49 million ($442.37 million). OCI has transformed into a global powerhouse with an impressive annual production capacity of 17.2 million metric tons across four continents.

The Amsterdam-listed group has strengthened its balance sheet through aggressive portfolio optimization. The group has generated $11.9 billion in gross proceeds from asset sales over the past three years, enabling approximately $7 billion in shareholder distributions since 2022. In 2025, OCI reported $1.61 billion in net revenue, up 24% year-on-year, supported by steady demand across fertilizer and industrial product segments.

With an annual production capacity of 17.2 million metric tons across four continents, OCI is increasingly positioning itself as a focused global leader in nitrogen-based products.