Released on 20/12/12

Investment firms First Reserve and SK Capital Partners have completed their acquisition of TPC Group, the US-based butadiene (BD) producer said on Thursday.

The completion of the deal follows its approval by TPC shareholders earlier this month.

TPC Group shareholders received $45/share. The initial offer from August by SK Capital and First Reserve was $40/share, which was worth about $850m (€638m).

Chemical firm Innospec had also offered to acquire TPC but later withdrew its proposal.

Source ICIS News