The Firm is representing First Reserve Corporation and SK Capital Partners in connection with the proposed acquisition of TPC Group Inc. (Nasdaq: TPCG) by investment funds sponsored by First Reserve and SK Capital for $40 per share. The transaction is valued at approximately $850 million, including net debt. The transaction is subject to the approval of TPC Group’s stockholders, antitrust clearances and other customary closing conditions, and is expected to close in the fourth quarter of 2012.
TPC Group, headquartered in Houston, Texas, is a leading producer of value-added products derived from niche petrochemical raw materials, such as C4 hydrocarbons, and provider of critical infrastructure and logistics services along the Gulf Coast region.
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