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Tronox completed its acquisition of Cristal's titanium dioxide business after FTC approval. The sale of Cristal's Ashtabula, Ohio plant to Ineos is expected to close on May 1.
INEOS Enterprises signed an agreement to acquire the North American business of National Titanium Dioxide Company Limited (Cristal) from Tronox Limited for $700 million. The deal includes two plants in Ashtabula, Ohio, and is part of a remedy package for Tronox's acquisition of Cristal's global business.
Tronox Ltd has signed a definitive agreement to acquire the TiO2 operations of Cristal for US$1.673 billion in cash plus shares representing a 24% stake in the new entity. The deal is expected to close before Q1 2018.