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Tronox Ltd (TROX.N)

TROX.N on New York Stock Exchange

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23 Feb 2017
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Latest Key Developments (Source: Significant Developments)

Saudi's Tasnee unit to sell titanium dioxide business to Tronox for $1.67 bln cash
Tuesday, 21 Feb 2017 09:36am EST 

National Industrialization Company <2060.SE>: Unit Cristal enters into agreement to sell domestic, international titanium dioxide business to Tronox for cash and newly shares . Deal in return for $1.673 billion cash and 37.6 million of newly issued class A shares in Tronox . Closing of deal is expected to occur within 15 months from the date hereof, subject to regulatory approvals . Size of the company board of directors will remain unchanged at nine members . Tom Casey will remain chairman and chief executive officer of combined business . As result of transaction, using cash consideration, Cristal shall fully repay its bank debt of $1.673 billion outstanding in Saudi Arabia . HSBC Saudi Arabia and Perella Weinberg partners are acting as financial advisors . Transaction will significantly deleverage Tasnee consolidated balance sheet from 6.0x to 4.5x pro forma Dec 2016 post transaction .Actual impact on net income and shareholders equity shall be determined at the date of closing of this transaction.  Full Article

Tronox reports Q4 adj. loss per share $0.14
Tuesday, 21 Feb 2017 07:30am EST 

Tronox Ltd : Tronox reports fourth quarter and full year 2016 financial results . Q4 adjusted non-GAAP loss per share $0.14 . Q4 revenue $548 million .Q4 GAAP earnings per share $1.00.  Full Article

Tronox announces definitive agreement to acquire Cristal Tio business for $1.67 bln
Tuesday, 21 Feb 2017 07:30am EST 

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.  Full Article

Tronox reports Q2 adjusted loss per share $0.43
Wednesday, 3 Aug 2016 05:04pm EDT 

Tronox Ltd : Q2 adjusted loss per share $0.43 . Q2 revenue $537 million versus $617 million . Tronox reports second quarter 2016 financial results . Q2 gaap loss per share $0.42 .Q2 earnings per share view $-0.31, revenue view $531.5 million -- Thomson Reuters I/B/E/S.  Full Article

Tronox Ltd says CFO Katherine Harper to leave
Friday, 15 Jul 2016 04:21pm EDT 

Tronox Ltd : On July 14, Co mutually agreed with katherine harper, senior vp and CFO, that she will be leaving co to pursue other career opportunities . Tronox ltd says Katherine Harper's departure will become effective as of september 30, 2016 .Tronox ltd says harper will continue serving as cfo while co's external search for a new cfo is in process.  Full Article

Tronox Ltd declares quarterly dividend
Tuesday, 4 Aug 2015 05:44pm EDT 

Tronox Ltd:Declares quarterly dividend of $0.25 per share.Payable on or before September 3, 2015 to shareholders of record of company's Class A and Class B ordinary shares at close of business on August 19, 2015.  Full Article

Tronox Limited announces closing of Alkali Chemicals acquisition
Wednesday, 1 Apr 2015 04:15pm EDT 

Tronox Limited:Closes its acquisition of the Alkali Chemicals business from FMC Corporation.Tronox Limited now owns and operates two vertically integrated inorganic minerals businesses: Tronox Titanium Dioxide (TiO2), which mines titanium ore and produces TiO2pigments, and Tronox Alkali, which mines trona ore and produces natural soda ash.  Full Article

Tronox and Evolution Escrow Issuer LLC announce proposed offering of senior notes
Monday, 9 Mar 2015 07:00am EDT 

Tronox Ltd and Evolution Escrow Issuer LLC (Issuer):Says the issuer intends to offer senior notes due 2022 through an offering to qualified institutional buyers.The notes are being offered in connection with, and it intend to use the net proceeds from the offering for, the pending acquisition by Tronox Ltd of the alkali chemicals division of FMC Corp.Upon consummation of the acquisition, Evolution Escrow Issuer LLC will be merged with and into Tronox Finance LLC, a wholly owned subsidiary of Tronox Ltd with Tronox Finance LLC the surviving company.  Full Article

More From Around the Web

Tronox to acquire titanium dioxide business of Cristal

Chemical maker Tronox Ltd announced plans on Tuesday to buy the titanium dioxide business of Cristal, a subsidiary of Saudi Arabia's Tasnee, for $1.67 billion cash and new shares.