US Tronox completes acquisition of Cristal;FTC approves N American TiO2 divestiture to INEOS

摘要

HOUSTON(ICIS)--Tronox has completed the acquisition of Saudi Arabia’s National Titanium Dioxide Co(Cristal),following US approval of a remedy that addressed antitrust concerns,the US-based titanium dioxide(TiO2)producer announced on Wednesday.The Federal Trade Commission(FTC)voted 5-0 to accept a proposal involving the divestiture of Cristal's North American TiO2 business to UK-based INEOS.”This agreement will preserve a competitive marketplace,which ultimately benefits consumers in the form of lower prices and higher quality products,”Bureau of Competition director Bruce Hoffman said.The divestiture is expected to close on 1 May,Tronox said.