Tasnee to increase stake in Cristal to 79%
Published: Thursday, 02 October 2014
The Saudi-based company has submitted an offer to Gulf Investment for $479m, which it plans to fund through its own cash reserves. It has already entered into a JV with Cristal for titanium sponge production to encourage vertical integration in the company.
Saudi Arabia-based National Industrialization Co. (Tasnee)
is looking to increase its stake in titanium dioxide (TiO2)
producer Cristal Global by an additional 13%.
The company submitted an offer to Gulf Investment Corp. to
buy the additional stake for Saudi riyal (SR) 1.8bn ($479m*),
which would bring its total holding to...