ENEOS拟以含债务12.8亿美元收购美国化工企业TPC Group

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Investing.com -- Japan’s Eneos Holdings Inc. has acquired U.S. chemical producer TPC Group in a transaction valuing the company at $1.28 billion, including debt, Bloomberg reported, citing documents it reviewed.
The companies announced the agreement on Friday but did not disclose its financial terms. The acquisition will give the Japanese oil refiner control of TPC’s petrochemical operations in Houston, along with terminal facilities in Port Neches, Texas, and Lake Charles, Louisiana.
TPC held discussions with multiple interested parties before reaching the agreement with Eneos, according to documents signed by the chemical company’s leadership.
Representatives for Eneos and TPC did not immediately respond to Bloomberg’s requests for comment on the reported valuation.
Houston-based TPC produces chemical products used in the manufacture of synthetic rubber, fuels, plastics and other industrial materials. The company has been active in distressed-debt markets for several years and filed for Chapter 11 bankruptcy protection in 2022 following financial pressure linked to incidents at its facilities.
A 2019 explosion at TPC’s Port Neches plant exposed nearby communities to toxic air pollution and generated about 7,800 legal claims. The facility was later closed, and the company’s earnings fell by almost 75% during the third quarter of that year.
TPC emerged from bankruptcy under the ownership of its bondholders. Its restructuring plan also allocated $30 million in cash to other creditors, including people affected by pollution linked to the Port Neches incident.
TPC Chief Executive Ed Dineen said in a statement that Eneos would “further strengthen TPC Group’s position for long-term success.”
The purchase expands Eneos’ presence in the U.S. petrochemical sector and adds production and terminal infrastructure along the Gulf Coast, a major hub for the American refining and chemicals industries.