Tasnee to vote on Tronox-Cristal deal on Dec. 31

National Industrialization Co. (Tasnee) has invited shareholders to attend a general assembly on Dec. 31 to vote on the deal set to take place between National Titanium Dioxide Ltd. (Cristal), a 79 percent subsidiary of Tasnee, and NYSE-listed Tronox Ltd.

Tronox will acquire the titanium dioxide (TiO2) business of Cristal for SAR 6.27 billion of cash and Class A ordinary shares representing 24 percent ownership in pro forma Tronox. 

Shareholders will also vote on the updated rules of remunerations and nominations committee, amended policies and standards of board membership, and remunerations policies for board members and executives.