National Industrialization Co. — Capital/Financing Update 2018

Mar 1, 2018

TASNEE announces further developments regarding its subsidiary Cristal entering into a conditioned transaction agreement to sell to Tronox its domestic and international titanium dioxide business.

2060 · 01/03/2018 16:03:44 · Announcement #49590 · View on Saudi Exchange

TASNEE announces further developments regarding its subsidiary Cristal entering into a conditioned transaction agreement to sell to Tronox its domestic and international titanium dioxide business.

With reference to TASNEE previous announcement published on Tadawul on 21/2/2017G. regarding its subsidiary (Cristal) entering into a conditioned transaction agreement to sell to Tronox Limited its domestic and international titanium dioxide business, TASNEE announces that on 1/3/2018G. the parties agreed to amend the transaction agreement to extend the end date for the transaction from 21/5/2018G. to 30/6/2018G. with automatic three-month extensions until 31/3/2019G., if necessary, based on the status of outstanding regulatory approvals outside the Kingdom withe no material changes to the key term and conditions.

Both parties (Cristal and Tronox) remain committed to this transaction given the significant synergies and associated value that will be derived to the benefit of their customers and shareholders and efforts are underway to close the transaction as soon as possible.

Note that TASNEE owns 79% of Cristal and will announce any material developments pertaining to the Transaction in due course.

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