HOUSTON, Dec. 11, 2012 (GLOBE NEWSWIRE) -- TPC Group Inc. (Nasdaq:TPCG), a leading fee-based processor and service provider of value-added products derived from niche petrochemical raw materials, announced today that it has extended the expiration time for the tender offer (the "Tender Offer") and related consent solicitation (the "Consent Solicitation"), by TPC Group LLC, its wholly owned subsidiary, for its 8.25% Senior Secured Notes due 2017 (the "Notes"). The Tender Offer and the Consent Solicitation, which were scheduled to expire at 8:00 a.m., New York City time, on December 14, 2012, will now expire at 8:00 a.m., New York City time, on December 20, 2012 (the "Expiration Time"). Except as provided herein, all other terms, provisions and conditions of the Tender Offer and the Consent Solicitation remain unchanged. The Tender Offer and the Consent Solicitation are being made upon the terms and subject to the conditions described in the Offer to Purchase and Consent Solicitation Statement dated November 15, 2012 (the "Offer to Purchase") and the related letter of transmittal and consent. Eligible holders who validly tender their Notes at or prior to the Expiration Time, will be eligible to receive, if their Notes are accepted for purchase, the tender offer consideration of $1,082.45 per $1,000 principal amount of Notes so tendered. In addition, holders who validly tender their Notes that are accepted for purchase will receive accrued and unpaid interest to, but not including, the payment date, which is currently expected to be December 20, 2012. Holders tendering Notes after 5:00 p.m., New York City time, on November 29, 2012 are not eligible to receive the total consideration, which includes the consent payment, offered pursuant to the Tender Offer and the Consent Solicitation. The Tender Offer and the Consent Solicitation are being made in connection with the proposed acquisition of TPC Group Inc. by entities affiliated with First Reserve Management, L.P. and SK Capital Partners (such transaction referred to herein as the "Merger"). The Tender Offer and the Consent Solicitation are subject to a number of conditions that are set forth in the Offer to Purchase, including, without limitation, the consummation of the Merger, as more fully described in the Offer to Purchase.