Davis Polk advised the underwriters on a $493.4 million SEC-registered secondary offering of 22,425,000 shares of Class A ordinary shares of Tronox Limited by Exxaro Resources Limited.
Tronox Limited is a vertically integrated mining and inorganic chemical business. Tronox 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.
Exxaro is a resources group with business interests in South Africa, Europe, the United States and Australia. Exxaro’s asset portfolio includes coal operations and investments in iron ore, pigment manufacturing, renewable energy (wind) and residual base metals.
The Davis Polk corporate team included partner Michael Kaplan, counsel Jeffrey S. Ramsay and associates Pedro J. Bermeo and Chris Van Buren. Partner Po Sit and associate Gil Savir provided tax advice. Counsel Loyti Cheng and associate Yuko Masunaga provided environmental advice. All members of the Davis Polk team are based in the New York office.