Tronox-Cristal merger likely to be finalized in Q1: Tasnee CEO

The planned merger between Tronox and Cristal is expected to be complete by early 2019, Mutlaq Al-Morished, chief executive of National Industrialization Co. (Tasnee), told Al Arabiya channel.

The deal is underway and progressing as negotiations with the US Federal Trade Commission (FTC) is advancing, he said.

FTC filed in July a complaint against Tronox’s plan to acquire the titanium dioxide (TiO2) business of National Titanium Dioxide Ltd. (Cristal), a subsidiary of Tasnee.

All regulatory approvals were approved and the deal is pending FTC approval.

FTC had requested to sell Cristal’s plant as a condition to approve the deal, while Tasnee was able to convince the federal authority that there’s no need to sell a whole plant, and apart is enough, he said.