ENEOS to Acquire TPC Group for $1.3 Billion

ENEOS Holdings, Inc. entered into a definitive agreement to acquire TPC Group for approximately $1.3 billion. The deal includes TPC Group's petrochemical operations in Houston, Texas, and terminal operations in Lake Charles, Louisiana, and Port Neches, Texas.

ENEOS intends to use the acquisition to secure stable supply sources in North America and strengthen its competitiveness in the petrochemical C4 value chain, addressing structural demand challenges within the Japanese market. TPC Group, the largest independent processor of C4 hydrocarbons in North America, stated that its supplier relationships, customer commitments, and daily operations will remain unchanged following the transition.

The acquisition includes the Port Neches facility, which was the site of a 2019 explosion and fire that resulted in numerous lawsuits. The transaction remains subject to regulatory approvals, which the companies expect to receive by October 2026. Until the closing date, ENEOS and TPC Group will continue to operate as separate entities.