Further developments about Cristal has entered into a conditioned transaction agreement to sell to Tronox its titanium dioxide business
1/30/2018






‚ÄčReference to TASNEE previous announcement published on Tadawul on 06.12.2017 about one of its subsidiaries (Cristal) has entered into a conditioned transaction agreement to sell to Tronox Limited its domestic and international titanium dioxide business. TASNEE announces that it has received approval from General Authority for Competition in the Kingdom of Saudi Arabia for the proposed acquisition to proceed. To date, Australia, China, New Zealand, Turkey, South Korea, and Colombia have also approved the proposed acquisition. This approval is an important step towards completion of this strategic acquisition. Cristal and Tronox continue to work with regulatory authorities in US and EU for bringing the proposed acquisition to a successful close.


Note that TASNEE owns 79% of Cristal and will announce any material developments pertaining to the Transaction in due course.