Approval for Tronox acquisition of Exxaro's mineral sands assets
www.cnchemicals.com Time：2013-05-31 Sources of information：www.cnchemicals.com
Tronox shareholders have approved the transaction agreement for Tronox to acquire Exxaro Resources' mineral sands assets. Tronox plans to combine the acquired business with its existing businesses under a new Australian holding company, Tronox Ltd. Under the terms of the transaction, Exxaro will receive approximately 38.5% of the voting securities of Tronox Ltd as consideration for its mineral sands business, and the mineral sands business will be contributed on a debt-free basis.
As a result, Tiwest Joint Venture (50% Tronox, 50% Exxaro) has announced a name change effective June 2012. It will now be known as Tronox Management, reflecting the aforementioned transaction.
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