Cristal sells titanium dioxide business to Tronox for $1.673 billion

Tronox Limited has signed a definitive agreement to acquire the titanium dioxide (TiO2) business of Cristal, a privately held global chemical and mining company, for $ 1.673 billion of cash and class A ordinary shares representing 24 percent ownership in pro forma Tronox. Concurrently with this announcement, Tronox announced its intent to begin a process to sell its alkali business. The cash portion of the purchase consideration is expected to be funded through proceeds from the sale of assets, including the sale of alkali and selected other non-core assets if appropriate, and cash on hand.

Cristal is owned 79 percent by