Valence Advises INEOS on Acquisition of N.A. TiO2 Business from Tronox
The Valence Group acted as financial advisor to INEOS Enterprises, a division of INEOS, on its announced $700 million acquisition of Cristal’s North American titanium dioxide business from Tronox. The acquired business comprises two plants located at Cristal’s Ashtabula, OH (US) complex.
INEOS is one of the world’s largest chemicals companies and the 50th largest business in the world, employing around 20,000 people across 171 sites in 24 countries. It is a privately owned company with sales in 2017 of $60bn and EBITDA of $7bn. In addition to its growth in petrochemicals, it has acquired oil & gas fields in the UK, Denmark and Norway and is a top 10 company and the biggest private enterprise operating in the North Sea.
About INEOS Enterprises
INEOS Enterprises comprises a portfolio of businesses manufacturing chemical products in Northern Europe USA and Canada, with sales of €2bn around the world. The business is focused on the developing needs of its customers and rapid growth through investment in new products and manufacturing facilities or by acquisition. It employs c. 2,000 people across sites in the UK, Germany, Sweden, Switzerland, Canada and the USA. INEOS Enterprises is not part of the INEOS Group Holdings bank group.
Tronox Limited is a vertically integrated mining and inorganic chemical business. The company mines and processes titanium ore, zircon and other minerals, and manufactures titanium dioxide pigments that add brightness and durability to paints, plastics, paper and other everyday products.
Cristal (also known as The National Titanium Dioxide Company Limited) operates eight manufacturing plants in seven countries on five continents and employs approximately 4,100 people worldwide. Cristal is owned 79 percent by Tasnee (a listed Saudi joint-stock company) and 20 percent by Gulf Investment Corporation (GIC), a company equally owned by the six states of the Gulf Cooperation Council (GCC), headquartered in Kuwait. One percent of the company is owned by Dr. Talal A. Al-Shair, who also serves as vice chairman, Tasnee and chairman of Cristal.
About The Valence Group
The Valence Group is a specialist investment bank offering M&A advisory services exclusively to companies and investors in the chemicals, materials and related sectors. The Valence Group team includes a unique combination of professionals with backgrounds in investment banking and strategy consulting within the chemicals and materials industries, all focused exclusively on providing M&A advisory services to the chemicals and materials sector. The firm’s offices are located in New York and London.
The Valence Group
Paul Lakind, 212-847-7339
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Business Figures for the First Half of 2019: Sartorius Continues Double-digit Growth19.7.2019 05:00:00 CEST | Press release
Sartorius, a leading international partner of biopharmaceutical research and the industry, grew strongly in the first half of 2019, recording double-digit increases in sales revenue, order intake and earnings. Given these results and continued positive prospects for the Bioprocess Solutions Division for the second half, management has raised its full-year targets. “We are very pleased on the whole with business progress in the first half, though both divisions showed different growth dynamics,” said Executive Board Chairman and CEO Dr. Joachim Kreuzburg. “While growth in the lab business slowed down due to the currently uncertain and softer economic environment, especially at the end of the second quarter, momentum for Bioprocess Solutions has remained unchanged at a very high level. In view of further development, we are very confident and expect full-year sales growth of 10% to 14% instead of our previously forecasted 7% to 11%.” Consolidated sales revenue in constant currencies rose
Quanergy and Chery Established Partnership to Propel a New Era of Autonomous Vehicles and Smart Cities18.7.2019 19:00:00 CEST | Press release
Quanergy Systems, Inc., a leading provider of LiDAR (Light Detection and Ranging) sensors and smart sensing solutions, announced a partnership with Chery Automobile, one of the largest automotive manufacturers in China. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190718005616/en/ Quanergy and Chery Established Partnership to Propel a New Era of Autonomous Vehicles and Smart Cities (Graphic: Business Wire) On June 20th, 2019, Chery unveiled the logo of its new brand Chery Lion, and announced its strategic plan of working with selected partners to solve technological challenges across the ecosystem. Quanergy signed on to Chery Lion’s Smart Partner Program as the LiDAR partner, to focus efforts on advancing autonomous driving and smart cities in China. “As the autonomous vehicle industry matures, it is imperative to build an ecosystem that supports a transportation network with reliable solutions.” said Dr. Yong Huang, Vice
LTI USD Revenue Growth up 11.5% YoY; Digital Revenues at 39%18.7.2019 16:08:00 CEST | Press release
Larsen & Toubro Infotech (BSE: 540005, NSE: LTI), a global technology consulting and digital solutions company, announced its Q1 FY20 results today. Q1 FY20 In US Dollars: Revenue at USD 356.5 million; growth of 0.8% QoQ and 11.5% YoY Constant Currency Revenue growth of 1.0% QoQ and 12.9% YoY In Indian Rupees: Revenue at Rs 24,849 million; growth was flat QoQ and 15.3% YoY Net Income at Rs 3,557 million; growth of (6.1%) QoQ and (1.5%) YoY “We delivered 12.9% YoY revenue growth in constant currency driven by Digital Services that now make up 39% of our revenues. We also won a large deal by opening a new client logo in Insurance vertical with net-new TCV of US$44m. We are also pleased to welcome Lymbyc to LTI family. Lymbyc is a specialist AI, machine learning, and advanced analytics company. The acquisition further strengthens LTI’s Mosaic platform and our fast-growing digital and analytics offerings.” - Sanjay Jalona, Chief Executive Officer & Managing Director, LTI Recent Deal Wins A
Moody’s Analytics Wins Wholesale Modelling Software of the Year at Risk Technology Awards18.7.2019 15:30:00 CEST | Press release
Moody’s Analytics, a global provider of financial intelligence, has won Wholesale Modelling Software of the Year in the 2019 Risk Technology Awards. It’s one of six categories won, spanning finance, accounting, regulatory, and credit functions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190718005512/en/ A suite of integrated Moody’s Analytics offerings contributed to this win, including the CreditEdge™ solution, which delivers a leading probability of default model and advanced analytics for managing the daily credit risk of more than 60,000 public firms and sovereigns. Our RiskCalc™ credit scoring platform helps clients assess the credit risk of private firms, commercial banks, project finance projects, and insurance companies. The CMM™ solution combines property performance forecasts with commercial mortgage fundamentals to assess default and recovery risk for commercial real estate properties. The new CAP™ platform ex
Fabasoft is a “Strong Performer” for Cloud Content Platforms, Q3 201918.7.2019 14:39:00 CEST | Press release
Fabasoft, a leading European provider of cloud solutions, was invited by Forrester to be part of the independent evaluation “The Forrester New Wave™: Cloud Content Platforms – Multitenant SaaS, Q3 2019.”* Upon conclusion of the evaluation, Fabasoft was positioned in the “Strong Performers” group. The research and consulting firm Forrester Research Inc. has evaluated 13 top cloud content platforms based on 10 transparent criteria relating to current offering, strategy, and market presence. The report is based on an analysis of data from product presentations, a survey, and customer interviews. “We are proud that with Fabasoft Cloud, we have been positioned in the New Wave as a strong performer by a leading international analyst firm,” says Andreas Dangl, Business Unit Executive Cloud Services at Fabasoft. “We are especially pleased that Fabasoft is the only European cloud provider in this field. This makes it clear to us that Fabasoft Cloud is the best digitalization platform for large-
Gilead to Present New Data on HIV Prevention, Treatment and Cure Research at IAS 201918.7.2019 12:30:00 CEST | Press release
Gilead Sciences, Inc. (NASDAQ: GILD) today announced that new data from the company’s HIV research and development programs will be presented at the 10th International AIDS Society Conference on HIV Science (IAS 2019) being held in Mexico City from July 21-24. Fifteen abstracts, along with community-focused symposia and workshops, reflect Gilead’s ongoing commitment to scientific innovation, a key pillar to addressing unmet and evolving medical needs in HIV. “Gilead’s scientific discovery has helped transform both HIV treatment and prevention and we are committed to advancing the next generation of therapies to improve the care of people and communities impacted by this disease,” said John McHutchison, AO, MD, Chief Scientific Officer, Head of Research & Development, Gilead Sciences. “Our data at this year’s meeting include exciting progress in our HIV prevention, treatment and cure programs, which together are helping to advance the field of HIV toward the ultimate goal of ending the