The Federal Trade Commission has approved two applications from Alimentation Couche-Tard Inc., or ACT, to divest eight retail fuel stations in Minnesota and Wisconsin. The Commission approved ACT’s application to divest seven stations to Molo Oil Company, which Molo Oil will immediately assign to Twin City Petroleum.
The Commission also approved another ACT application to divest one retail fuel station in Minnesota to Twin City. The divestitures are required under the FTC’s Feb. 15, 2018 final order settling charges that ACT’s proposed acquisition of Holiday Companies would violate federal antitrust law.
Under the terms of the consent agreement, ACT and its affiliate, CrossAmerica Partners LP, or CAPL, are required to identify a buyer or buyers that are acceptable to the Commission within 120 days after the issue date of the order, which was June 15, 2018, and to divest 10 retail fuel stations. The agreement also requires ACT and CAPL to maintain the economic viability, marketability, and competitiveness of each station until the divestiture is complete.
Last month, the Commission approved an application to divest two other Minnesota fuel stations. The Commission’s approval of the two divestiture applications announced today—along with the application approved last month — brings the total number of retail fuel stations approved for divestiture to 10.
The Commission vote to approve the applications was 4-0-1, with Commissioner Maureen Ohlhausen not participating. (The staff contact is Elizabeth Piotrowski, Bureau of Competition, 202-326-2623.)
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