Apollo Offers to Buy Partially Owned Tronox for $4 Billion

Apollo Offers to Buy Partially Owned Tronox for $4 Billion
Apollo Offers to Buy Partially Owned Tronox for $4 Billion

New York-based Apollo Global Management has made a cash offer to acquire Tronox Holdings, one of the world’s largest dyestuff manufacturers, for a value of $4.8 billion, sources told Reuters.

The offer values ​​Tronox stock at $27, knowing that the share price before this information was leaked was $20.

The share price jumped to $24 after news of Apollo Global Management’s interest in the company.

In 2019, Tronox acquired the titanium dioxide business from the National Titanium Dioxide Company known as Crystal Corporation, a subsidiary ofSaudi Manufacturing Company. Note that Tasnee is the largest shareholder in Tronox with a 24% stake through its subsidiary.

Tronox manufactures titanium dioxide pigment and other chemicals used to add luster and durability to paints, plastics and paper.

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