Tag: Gasoline

Alimentation Couche-Tard Inc. agreed to divest up to 71 retail fuel stations with convenience stores to Empire Petroleum Partners in order to settle charges that ACT’s proposed $4.4 billion acquisition of competitor CST Brands, Inc. would violate federal antitrust law. The divestiture order requires ACT to divest 70 CST fuel stations to Empire, and to give Empire the option of acquiring an additional location owned by ACT. The fuel stations to be divested are in Arizona, Colorado, Florida, Georgia, Louisiana, New Mexico, Ohio, and Texas. According to the complaint, the geographic markets for the retail sale of gasoline and diesel are localized, generally ranging from a few blocks to a few miles. The complaint alleges that without a remedy the merger would significantly increase market concentration for the retail sales of gasoline or diesel in each of the 71 local markets, resulting in a monopoly in ten markets and reducing the number of competitors in the rest to two or three.

ArcLight Energy Partners Fund VI, L.P., agreed to divest its ownership interest in four light petroleum product terminals in Pennsylvania, to settle charges that ArcLight’s acquisition of Gulf Oil Limited Partnership from its parent company, Cumberland Farms, Inc., would likely be anticompetitive in three Pennsylvania terminal markets: Altoona, where ArcLight would own the only terminal handling gasoline and one of two terminals handling distillates; Scranton, where ArcLight would own one of two terminals handling gasoline and distillates; and Harrisburg, where ArcLight would own one of two terminals handling gasoline and one of three terminals handling distillates.