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BRIEF-Tronox announces definitive agreement to acquire Cristal Tio business for $1.67 bln
February 21, 2017 / 1:35 PM / 10 months ago

BRIEF-Tronox announces definitive agreement to acquire Cristal Tio business for $1.67 bln

Feb 21 (Reuters) - Tronox Ltd:

* Tronox ltd - deal for $1.673 billion

* Says cash portion of purchase consideration is expected to be funded through proceeds from sale of assets

* Tronox announces definitive agreement to acquire cristal tio(2) business

* Tronox ltd - deal price consists of cash and class a ordinary shares representing 24 percent ownership in pro forma tronox

* Tronox ltd - pre-tax run-rate synergies of more than $100 million in year one and more than $200 million in year three expected from deal

* Tronox ltd says tom casey will remain chairman and chief executive officer of company

* Tronox ltd - cristal’s owners will receive two of nine existing board seats

* Tronox ltd - eps accretion of more than 100 percent expected in year one of deal closing

* Tronox ltd - exxaro mineral resources will remain on board with its three seats after deal

* Tronox ltd says acquisition has received unanimous approval of tronox and cristal boards of directors

* Says company announced intent to begin process to sell its alkali business

* Tronox ltd - subject to negotiations with cristal, tronox has intention to acquire cristal’s 500 mmt slag production facility in saudi arabia Source text for Eikon: Further company coverage:

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