Tasnee signs $428m agreement to increase stake in Cristal to 79%
Published: Wednesday, 10 December 2014
Tasnee purchased 13% of Gulf Investment Corp.’s shares as part of a strategy to maximise the stakes in its subsidiaries. While TiO2 producer Cristal is looking towards vertical integration and increasing its operational capacity, the move is not expected to affect any of its current operations.
Saudi Arabia’s National Industrialization Co.
(Tasnee) has signed a $428m agreement to increase its stake in
titatnium dioxide (TiO2) producer Cristal Global by
Cristal confirmed to IM today that Gulf
Investment Corp. (GIC) agreed to sell part of its shareholding
in Cristal to Tasnee, taking Tasnee’s stake