Tronox agrees to acquire Cristal's titanium dioxide operations.

Major titanium dioxide (TiO 2 ) producer Tronox Ltd has signed a definitive agreement to acquire the TiO 2 operations of privately owned Saudi Arabian chemical and mining concern Cristal for US$1.673 billion in cash plus Class A ordinary shares representing a 24% stake in the new entity. Tronox intends to sell its Alkali business, which makes soda ash, to part fund the transaction, which has been agreed by both companies' boards. Subject to the receipt of Tronox shareholder approval and the usual regulatory clearances, the deal is expected to close before the first quarter of 2018. [ABSTRACT FROM AUTHOR]