Tronox Holdings plc (Stamford, Conn.; www.tronox.com) announced it has completed its acquisition of the titanium dioxide (TiO2) business of The National Titanium Dioxide Co. (Cristal; Jeddah, Saudi Arabia; www.cristal.com). The FTC issued an Order and Decision today, allowing the transaction to proceed with the divestiture of Cristal’s North American TiO2 business to Ineos Enterprises. The divestiture transaction is scheduled to close on May 1, 2019. The previously announced divestiture of the 8120 paper laminate grade to Venator Materials PLC (NYSE: VNTR), which was approved by the European Commission in August 2018, is expected to close imminently.
“I am pleased this transformative acquisition has finally been completed and I greatly admire the resiliency both organizations have shown throughout this process. I also appreciate the professionalism and collaborative mindset applied by the FTC Bureau of Competition and the staff of the FTC in working with Tronox, Cristal and INEOS to reach this resolution,” said Jeffry N. Quinn, chairman and chief executive officer of Tronox. “We look forward to getting to the business of creating value for our shareholders, serving the needs of our global customers and creating opportunities for our employees.”