Methanex Acquires Methanol Facility

On May 16, 2003, Vancouver-based Methanex Corporation acquired the remaining 90 per cent interest in the Titan methanol facility located in Trinidad from The Beacon Group and BP p.l.c. Methanex had acquired a 10 per cent interest in the plant in 2000. The total purchase price, including estimated transaction costs, is approximately US$79 million.

Concurrent with the acquisition of the 90 per cent equity interest, Methanex repaid approximately US$29 million of limited recourse long-term debt related to the Titan plant. Total debt related to the Titan plant after the repayment is approximately US$194 million.

Methanex was represented in-house by Randy Milner, senior vice-president, general counsel and corporate secretary, and Wendy Bach, corporate counsel; and by McCarthy T├ętrault LLP with a team that included Richard Balfour, Byran Gibson, Ted Koffman, Linda Brown, Daniel Steiner, Michael Urbani, Jennifer Breeze, Darren Watt and David Crane.

The Beacon Group was represented by King & Spalding LLP in New York, with a team that included Mark Zvonkovic and Jennifer Kasmin. BP was represented by in-house counsel Felecita Gregoire, Rochelle Jackson, Marijke Paaijmans and Nick Verstappen.

JP Morgan Chase Bank, acting as agent, and a consortium of 17 European export credit and commercial banks were represented by White & Case LLP, with a team that included Doug Peel, David Baker and Mary Walsh.


David Crane Byran Gibson Richard J. Balfour Linda G. Brown Jennifer R. Breeze Doug Peel Daniel E. Steiner Ted I. Koffman Mark Zvonkovic Michael G. Urbani


McCarthy Tétrault LLP King & Spalding White & Case LLP