Firms: Ashurst (Tronox Limited); Kirkland & Ellis (Tronox Limited); Clifford Chance (Cristal)
Deal: Tronox Limited (Tronox) has acquired Cristal’s titanium dioxide business.
Value: US$2.2 billion
Key players: The Ashurst team was led by corporate partner John Sartori, with assistance from corporate partners Nick Terry and Kylie Lane, competition partners Peter Armitage and Ross Zaurrini, tax partners Ian Kellock and Geoffrey Mann, real estate partner Pauline Tan, resources partner Mark Brennan, and employment partner George Cooper.
Deal significance: The combination of the titanium dioxide businesses of Tronox and Cristal creates the world's largest and most highly integrated titanium dioxide pigment producer, with assets and operations on six continents.
The combined company will operate 11 titanium dioxide pigment plants in eight countries with a total capacity of 1.3 million metric tons per annum, and will have titanium feedstock operations in three countries with a total capacity of 1.5 million metric tons per annum.
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