STAMFORD, Conn., Dec. 20, 2017 /PRNewswire/ -- Tronox Limited
(NYSE: TROX) today confirmed that the European Commission has
initiated a Phase II review of the company's planned acquisition of
the titanium dioxide (TiO2) business of Cristal, a
privately held global chemical and mining company headquartered in
Jeddah, Saudi Arabia. The
commission would have up to 90 working days, a period that may be
extended or shortened, to make a final decision on whether the
proposed transaction would significantly impede effective
competition in the European Economic Area.
Tronox Chief Executive Officer Jeffry N.
Quinn said: "We remain actively engaged with representatives
of the European Commission as they continue their
analysis of our planned acquisition of Cristal's TiO2
business. We believe this highly synergistic acquisition will
enhance competition in the global TiO2 industry and
benefit our customers around the world. We look forward to
our ongoing engagement with the Commission to secure approval for
this transaction in a timely manner."
The transaction has been unconditionally cleared in Australia, China, New
Zealand, Turkey,
South Korea and Colombia.
Reviews in the U.S. and Saudi
Arabia are ongoing.
About Tronox
Tronox Limited is a vertically integrated mining and
inorganic chemical business. The company mines and processes
titanium ore, zircon and other minerals, and manufactures titanium
dioxide pigments that add brightness and durability to paints,
plastics, paper, and other everyday products. For more information,
visit tronox.com.
About Cristal
Cristal (also known as The National Titanium Dioxide Company
Limited) operates eight manufacturing plants in seven countries on
five continents and employs approximately 4,100 people worldwide.
Cristal is owned 79 percent by Tasnee (a listed Saudi
joint-stock company) and 20 percent by Gulf Investment Corporation
(GIC), a company equally owned by the six states of the Gulf
Cooperation Council (GCC), headquartered in Kuwait. One percent of the company is
owned by Dr. Talal Al-Shair, who
also serves as vice chairman, Tasnee and chairman of Cristal.
Media Contact: Bud Grebey
Direct: +1.203.705.3721
Investor Contact: Brennen
Arndt
Direct: +1.203.705.3730
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SOURCE Tronox Limited