CAIRO, June 5 OCI N.V. said
on Wednesday it plans to sell a minority state in a methanol and
ammonia plant in Texas in an initial public offering in the
second half of 2013.
The new partnership will use the funds from the IPO to repay
debts and finance a debottlenecking project at the plant in
OCI has set up a limited partnership that will apply this
month to the U.S. Securities and Exchange Commission to carry
out the IPO.
"Subject to market conditions and final approval by OCI
N.V.'s board of directors, OCI N.V. anticipates that a minority
interest in the MLP will be offered in the IPO in the second
half of 2013," OCI said in a statement to the press.
(Reporting by Maggie Fick; editing by Patrick Graham; Writing
by Patrick Werr; editing by Patrick Graham)