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Tronox to sell Alkali Chemicals business for USD1.325bn

August 09/2017

MOSCOW (MRC) -- US-based Tronox has signed a definitive agreement to divest its Alkali Chemicals business to Genesis Energy for USD1.325bn, said Chemicals-technology.

With its mining and processing facilities located in Green River at Wyoming, Alkali Chemicals focuses on producing natural soda ash that is used in multiple sectors such as glass manufacturing, detergents, baked goods and pharmaceuticals.

Tronox CEO Peter Johnston said: "We were pleased to have received significant interest in our Alkali business from multiple potential buyers.

"Genesis' proposal was the most compelling for its overall value, with its combination of price, favourable contract terms, speed to closing, committed financing, and expected ease of regulatory approvals.

"These considerations, in aggregate, provided the highest level of certainty to Tronox."

In February, Tronox signed a definitive agreement to acquire the TiO2 business of Cristal for USD1.673bn.

The company plans to use the proceeds received from the sale of Alkali Chemicals in funding TiO2 acquisition, which is expected to close in the first quarter of next year.
Author:Anna Larionova
Tags:dioksid titana, Tronox, India.
Category:General News
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