Saudi competition authority seeks public opinion on Tronox-Cristal deal

Saudi Arabia’s General Authority for Competition has called on the public to share their opinions on US-based Tronox Limited’s request to acquire the National Titanium Dioxide Ltd. (Cristal) within 15 days from today.

The public should submit their opinions through the authority’s website.

According to data compiled by Argaam, Tronox has signed a definitive agreement to Cristal, which is 79 percent-owned by the National Industrialization Co. (Tasnee), for $1.67 billion of cash and Class A ordinary shares representing 24 percent ownership in pro forma Tronox.

In September, the competition authority did not object the acquisition, since both parties produce titanium dioxide TiO2 in Australia.