December 5, 2017 / 10:53 PM / 2 years ago

U.S. challenges Tronox plan to buy Cristal's titanium dioxide business

WASHINGTON (Reuters) - The U.S. government has filed a complaint aimed at stopping chemical maker Tronox Ltd (TROX.N) from purchasing Cristal’s titanium dioxide business, the Federal Trade Commission said.

The companies are two of the three top suppliers of chloride process titanium dioxide, used to make paint, plastic, paper and other products, the FTC said. The third is the Chemours Company.

Tronox did not immediately respond to a request for comment. The company valued the deal at $1.673 billion when it was announced in February.

The FTC has filed a complaint with its own internal agency judge and has requested a temporary restraining order and preliminary injunction in Washington, DC to prevent the deal from going forward.

Cristal’s U.S. agent is Cristal USA, while its parent companies are Saudi Arabia-based National Industrialization Company (2060.SE) and National Titanium Dioxide Company Limited, the FTC said.

Reporting by Diane Bartz; Editing by Andrew Hay and Sandra Maler

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below