Houston-based Chemical Company to Be Acquired by Two Private Investment Firms
CHEMMONITOR.COM – Two US-based companies, First Reserve Corporation and SK Capital Partners, will purchase a butadiene company with headquarters in Houston (USA), TPC Group Inc. The price is estimated at almost USD 630 million.
The companies are going to buy TPC Group Inc. because of the decreased inventories of butadiene, the raw material for styrene rubber.
TPC Group Inc. will get about USD 40 per share from the buying companies.
In 2011, the Group lifted up prices for the product by 55% because other butadiene makers mitigated production.