FTC Approves Houghton International Order Modification Releasing AEA Investors as a Party to the Order

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Following a public comment period, the Federal Trade Commission has approved an application by AEA Investors 2006 Fund L.P. to modify a 2010 final order related to the 2008 acquisition of D.A. Stuart GmbH by Houghton International Inc., a wholly owned subsidiary of HHI Holding Corporation.  The FTC charged that the 2008 transaction was anticompetitive in the market for hot rolling oil used to process aluminum, and required the sale of some assets Houghton acquired from D.A. Stuart as part of the transaction.  AEA was included in the final order because at the time, Houghton was a wholly owned subsidiary of HHI Holding Corp., which itself was a subsidiary of AEA.

AEA sold Houghton and HHI to Gulf Oil Corporation Limited in December 2012.  Because AEA no longer has any interest in Houghton or HHI, its inclusion in the final order is no longer necessary to ensure Houghton’s compliance.

The Commission vote to approve AEA’s application to modify the final order was 4-0.  (FTC File No. 081-0245, Docket No. C-4297; the staff contact is Elizabeth Piotrowski, Bureau of Competition, 202-326-2623; see press releases dated July 14, 2010 and August 31, 2010.)

The FTC’s Bureau of Competition works with the Bureau of Economics to investigate alleged anticompetitive business practices and, when appropriate, recommends that the Commission take law enforcement action.  To inform the Bureau about particular business practices, call 202-326-3300, send an e-mail to antitrust{at}ftc{dot}gov, or write to the Office of Policy and Coordination, Bureau of Competition, Federal Trade Commission, 601 New Jersey Ave., Room 7117, Washington, DC 20580.  To learn more about the Bureau of Competition, read Competition Counts.  Like the FTC on Facebook, follow us on Twitter, and subscribe to press releases for the latest FTC news and resources.

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