STAMFORD, Conn., Sept. 1, 2017 /PRNewswire/ -- Tronox Limited
(NYSE:TROX) today announced that it has completed the sale of its
Alkali Chemicals business to Genesis Energy, L.P. (NYSE: GEL)
previously announced on August 2,
2017. The purchase price was approximately $1.325 billion inclusive of approximately
$106 million of non-cash net working
capital.
"The sale of Alkali Chemicals is an important step in
positioning Tronox as the global leader in the titanium dioxide
(TiO2) industry. The proceeds will be used to fund the
majority portion of the cash consideration for the acquisition of
the TiO2 assets of Cristal, which is expected to close
by the first quarter of 2018," said Tronox chief executive officer
Peter Johnston.
Credit Suisse is acting as financial advisor to Tronox for both
the Cristal and Alkali transactions and Kirkland & Ellis LLP
and Willkie Farr & Gallagher LLP
are Tronox's legal advisors.
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
www.tronox.com.
Media Contact: Bud Grebey
Direct: +1.203.705.3721
Investor Contact: Brennen
Arndt
Direct: +1.203.705.3722
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SOURCE Tronox Limited