SYDNEY: Tronox Limited, a diversified chemical maker to buy a soda ash business from rival FMC Corporation for more than $1.5 billion.
Bud Grebey, Tronox spokesman said the company does not respond to rumors or speculation on such matters. Representatives of FMC could not be reached for comment outside regular US business hours.
FMC, a Philadelphia, Pennsylvania based chemical maker, announced its intention to sell the alkali chemicals business on September 8, when it unveiled a deal to acquire Cheminova A/S, a unit of Auriga Industries A/S for $1.8 billion.
Pierre Brondeau, FMC Chief Executive has said the sale would allow the company to cut its debt pile following the Cheminova deal.
FMC had tapped Bank of America Corporation and Goldman Sachs Group Incorporation to help with the sale of the unit could fetch around $1.5 billion.
Demand for soda ash, which FMC makes for a number of industrial customers, has been weak due to an uneven global economic recovery.
