GSO and KKR backed Genesis Energy acquired Tronox's Alkali business.

Genesis Energy acquired Alkali business of Tronox, an American worldwide chemical company involved in the titanium products industry, for $1.3bn. In conjunction with the transaction, Genesis has received binding commitments for the purchase of approximately $750m of 8.75% Class A Convertible Preferred Units from KKR and GSO Capital Partners. Grant E. Sims, the Chief Executive Officer of Genesis, commented, “The acquisition of Tronox’s Alkali Business is an exciting growth opportunity for us. We believe the acquisition to be immediately deleveraging and will provide further diversification and substantial scale to the partnership."