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Multibillion-dollar deal complete for NYSE-listed group
Ashurst has advised Tronox Limited and its Australia subsidiaries in a deal worth in excess of $1 billion.
Emma Musgrave
Firm: Ashurst (Tronox Limited)
Value: US$3.150 billion
Area: Finance
Key players: The Ashurst team was led by partner Kenneth Nguyen, with assistance from partners John Sartori, Ian Kellock, Geoffrey Mann, Lionel Meehan and Mark Bradley.
Deal significance: Tronox is an Australian-incorporated, NYSE-listed mining and inorganic chemical business, which 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, according to a statement from Ashurst.
“Tronox Limited [has] sought to refinance its existing corporate facilities and repay certain notes in order to reduce its overall cost of debt, extend its debt portfolio’s weighted average years to maturity, improve its mix of secured and unsecured debt, provide additional pay down flexibility, and fund its acquisition of Cristal’s TiO2 business,” the statement said.
Commenting on the significance of the transaction, Ashurst partner Kenneth Nguyen said: “We were delighted to assist our long-standing client, Tronox Limited, on this major refinancing, which will in due course support the transformational combination with Cristal’s TiO2 business.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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