17 September 2009 18:05 [Source: ICIS news]
HOUSTON (ICIS news)--Tronox’s shorter deadline for filing its reorganisation plan should not affect the closing of the sale of the company’s titanium dioxide (TiO2) plants to Huntsman or any other bidder, a company spokesman said on Thursday.
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In the context of the sale of the plants, 15 December is only the date by which Tronox must have the auction and bids completed, spokesman Robert Gibney said.
Closing needs to occur by 31 March, he added.
Assuming regulators approve the winning bid at a 10 December sale hearing, such a sale would typically close within 30-45 days, Gibney said. That would allow the company to avoid any potential time crunch.
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