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As part of an agreement with the FTC, Tronox agreed to sell Cristal’s North American TiO2 business to British chemicals firm Ineos Enterprises.
Tronox is now focused on legal action to challenge the U.S. Federal Trade Commission's opposition to the $1.7 billion deal.
"We now look forward to our long-awaited day in court and the opportunity to demonstrate how this transaction will benefit customers throughout North America and around the world," said Jeffry Quinn, the Stamford firm’s president and CEO.
"I anticipate we will quickly receive final approval of the proposed remedy," said Jeffry N. Quinn, president and CEO of Tronox.
The sale comes in the midst of Tronox’s ongoing efforts to close a $1.7 billion agreement to acquire the titanium dioxide business of Saudi chemical and mining company Cristal.
Tronox must respond to the European Commission's "Statement of Objections" by early April.
The Stamford firm also posted its fourth-quarter and full-year 2017 financial results, both of which were up significantly from the previous periods.
The Stamford company filed a lawsuit against the FTC last week to gain U.S. approval of the deal.
Among other things, the FTC’s administrative complaint charges that the deal would violate antitrust laws.
Tronox intends to complete the transaction following the satisfaction of all remaining conditions, including antitrust clearance by the European Commission and the Kingdom of Saudi Arabia.
Stamford-based company also plans to sell its Alkali natural soda ash division.