Mitsui O.S.K. Lines, Ltd. (TSE:9104) entered into purchase and sale agreement to acquire 40% stake in Waterfront Shipping Company Limited from Methanex Europe S.A. for approximately $150 million on July 15, 2021. The final price will be subject to customary closing adjustments. Methanex will retain the remaining 60 percent majority interest in WFS and continue to operate WFS as a key element of its global supply chain capabilities. Paul Hexter will remain President. The definitive agreements are subject to formal approval by MOL's Board of Directors. The closing is subject to regulatory approval and is expected by the end of the year 2021, after all customary conditions are met.

As of January 26, 2022 all the regulatory approvals have been received and the closing is expected to be in the first quarter of 2022.