On February 21, Titanium, the giant titanium dioxide producer, announced that it had signed a definitive agreement to acquire the titanium dioxide business of another giant, Cristal, in cash and equity. In order to raise funds, Tenor also expressed its intention to sell the base and other non-core assets.
The deal will create the world's largest producer of titanium dioxide, with 11 titanium dioxide plants in eight countries. In addition, titanium raw materials businesses are also available in 3 countries.
The transaction also needs the approval of the relevant national government regulatory agency, and Tener expects to complete the transaction in the first quarter of 2018.
Teno also announced its intention to sell its soda ash business, which had a revenue of $784 million in 2011 and an EBITDA of $149 million. It is expected that the transaction will be completed in the second half of 2017.
The deal will create the world's largest producer of titanium dioxide, with 11 titanium dioxide plants in eight countries. In addition, titanium raw materials businesses are also available in 3 countries.
The transaction also needs the approval of the relevant national government regulatory agency, and Tener expects to complete the transaction in the first quarter of 2018.
Teno also announced its intention to sell its soda ash business, which had a revenue of $784 million in 2011 and an EBITDA of $149 million. It is expected that the transaction will be completed in the second half of 2017.
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