ENEOS Holdings completed the acquisition of U.S. chemical maker TPC Holdings, making it a consolidated subsidiary. The purchase price was approximately $758 million, giving ENEOS entry into the U.S. market, which has access to low-cost feedstocks derived from shale gas.
ENEOS announced that it had completed the acquisition of TPC Holdings on the 26th U.S. time, making it a consolidated subsidiary. The purchase price was approximately $758 million.
The acquisition was announced in August and will enable ENEOS to enter the U.S. market as part of the portfolio restructuring under its medium-term management plan, leveraging feedstocks derived from shale gas that provide low-cost raw materials.
TPC has the largest market share in North America in the manufacture and sale of butadiene, a raw material for synthetic rubber and other products. Following the acquisition, its butadiene production capacity is expected to rank third globally.
The impact on earnings is currently being reviewed in detail, and revised information will be disclosed promptly as necessary.