National Industrialization Co. (Tasnee) on Monday said it has received an approval from Saudi General Authority for Competition for Tronox Limited’s planned acquisition of the titanium dioxide business of Cristal.
Approvals on the proposed acquisition have also been received from Australia, China, New Zealand, Turkey, South Korea, and Colombia, Tasnee said in a bourse statement.
Cristal, which is 79 percent-owned by Tasnee, and Tronox are finalizing the regulatory approvals in the US and the European Union.
Last week, Tronox Limited, a pigment-producing company with operations in Oklahoma City, had filed a legal claim against the Federal Trade Commission (FTC) over blocking the company's planned acquisition of the titanium dioxide business of Cristal.
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