Tronox Ltd, (Stamford, Conn.; www.tronox.com), a global mining and inorganic chemicals company, announced that Tronox LLC, its indirect wholly owned subsidiary, has entered into a purchase agreement with EMD Acquisition LLC to sell certain assets and liabilities of its Electrolytic Operations based in Henderson, Nev. for $13 million in cash, subject to certain working capital adjustments. The transaction is subject to customary closing conditions and expected to close mid-2018.
“As we focus on our evolution into a leading global producer of titanium dioxide, we are pleased to find a long-term investor to purchase this non-core business,” said Jeffry N. Quinn, president and chief executive officer of Tronox.
SunTrust Robinson Humphrey, Inc. acted as the Company’s financial advisor for the transaction.