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5 个月前
BRIEF-Exxaro Resources to begin to monetise its stake in Tronox to focus on core activities
2017年3月8日 / 下午3点12分 / 5 个月前

BRIEF-Exxaro Resources to begin to monetise its stake in Tronox to focus on core activities

March 8 (Reuters) - Exxaro Resources:

* Exxaro announces intention to begin a path to monetise its stake in Tronox in order to focus on core activities

* Will explore available alternatives to monetise its stake in Tronox in staged process over time

* Exxaro intends to apply proceeds from any future sales to, amongst others, Exxaro's core operations and to fund capital commitments

* Tronox has announced a definitive agreement to acquire titanium dioxide business of cristal for usd $1.673 billion of cash and stock

* As Tronox's largest shareholder, Exxaro intends to vote its shares in favour of proposed transaction

* Upon implementation of proposed transaction, Exxaro's 44% stake would be diluted to approximately 33%

* Deal expected to proceed in stages over time in an efficient and organised manner and would likely not begin until second half of 2017

* J.P. Morgan is acting as exclusive financial advisor to Exxaro with respect to tronox and cristal transaction Source text for Eikon: Further company coverage:

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