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Valence Advises INEOS on Acquisition of N.A. TiO2 Business from Tronox

May 2, 2019

LONDON--(BUSINESS WIRE)--May 2, 2019--The Valence Group acted as financial advisor to INEOS Enterprises, a division of INEOS, on its announced $700 million acquisition of Cristal’s North American titanium dioxide business from Tronox. The acquired business comprises two plants located at Cristal’s Ashtabula, OH (US) complex.

About INEOS

INEOS is one of the world’s largest chemicals companies and the 50th largest business in the world, employing around 20,000 people across 171 sites in 24 countries. It is a privately owned company with sales in 2017 of $60bn and EBITDA of $7bn. In addition to its growth in petrochemicals, it has acquired oil & gas fields in the UK, Denmark and Norway and is a top 10 company and the biggest private enterprise operating in the North Sea.

About INEOS Enterprises

INEOS Enterprises comprises a portfolio of businesses manufacturing chemical products in Northern Europe USA and Canada, with sales of €2bn around the world. The business is focused on the developing needs of its customers and rapid growth through investment in new products and manufacturing facilities or by acquisition. It employs c. 2,000 people across sites in the UK, Germany, Sweden, Switzerland, Canada and the USA. INEOS Enterprises is not part of the INEOS Group Holdings bank group.

About Tronox

Tronox Limited is a vertically integrated mining and inorganic chemical business. The company mines and processes titanium ore, zircon and other minerals, and manufactures titanium dioxide pigments that add brightness and durability to paints, plastics, paper and other everyday products.

About Cristal

Cristal (also known as The National Titanium Dioxide Company Limited) operates eight manufacturing plants in seven countries on five continents and employs approximately 4,100 people worldwide. Cristal is owned 79 percent by Tasnee (a listed Saudi joint-stock company) and 20 percent by Gulf Investment Corporation (GIC), a company equally owned by the six states of the Gulf Cooperation Council (GCC), headquartered in Kuwait. One percent of the company is owned by Dr. Talal A. Al-Shair, who also serves as vice chairman, Tasnee and chairman of Cristal.

About The Valence Group

The Valence Group is a specialist investment bank offering M&A advisory services exclusively to companies and investors in the chemicals, materials and related sectors. The Valence Group team includes a unique combination of professionals with backgrounds in investment banking and strategy consulting within the chemicals and materials industries, all focused exclusively on providing M&A advisory services to the chemicals and materials sector. The firm’s offices are located in New York and London.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190502005437/en/

CONTACT: The Valence Group

Paul Lakind, 212-847-7339

plakind@valencegroup.com

KEYWORD: UNITED STATES EUROPE ASIA PACIFIC NORTH AMERICA CANADA CHINA OHIO INDIA

INDUSTRY KEYWORD: ENERGY ALTERNATIVE ENERGY COAL OIL/GAS UTILITIES OTHER ENERGY HEALTH MANUFACTURING AEROSPACE AUTOMOTIVE MANUFACTURING CHEMICALS/PLASTICS ENGINEERING PACKAGING STEEL TEXTILES OTHER MANUFACTURING NATURAL RESOURCES AGRICULTURE FOREST PRODUCTS MINING/MINERALS OTHER NATURAL RESOURCES AUTOMOTIVE PROFESSIONAL SERVICES BANKING FINANCE ENVIRONMENT DEFENSE CONTRACTS OTHER DEFENSE NUCLEAR GENERAL AUTOMOTIVE GENERAL HEALTH

SOURCE: The Valence Group

Copyright Business Wire 2019.

PUB: 05/02/2019 08:12 AM/DISC: 05/02/2019 08:12 AM

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