British chemicals firm INEOS said on Tuesday it would buy Cristal's North American titanium dioxide business from Tronox for $700 million.
"This is a great opportunity for INEOS to enter the pigments market and become the second largest producer of titanium dioxide in the key North American market," Jim Ratcliffe, INEOS chairman said in a statement.
($1 = 0.7524 pounds)
(By Elisabeth O'Leary; Editing by Michael Holden)