Commission action regarding applications for approval: Following a public comment period, the Commission has ruled on an application for approval of a transaction from the following:
Shell Oil Company and Texaco Inc. have been granted approval to divest 29 Shell and Texaco service stations in San Diego, California, to New West Petroleum, Inc. and 27 gas stations and Texaco’s interest in a terminal in Oahu, Hawaii, to U.S. Restaurant Properties, Inc. The divestitures are required under the terms of a final consent order with Shell and Texaco that requires the companies to divest assets to settle FTC charges that their proposed joint venture would violate federal antitrust laws. The Commission vote to approve the divestiture was 4-0. (See news releases dated September 4, 1998; August 7, 1998;June 11, 1998; April 22, 1998; December 19, 1997; Docket No. C-3803. Staff contact is Daniel P. Ducore, 202-326- 2526)
Copies of the documents referenced above are available from the FTC’s web site at http://www.ftc.gov and also from the FTC’s Consumer Response Center, Room 130, 6th Street and Pennsylvania Avenue, N.W., Washington, D.C. 20580; 202-326-3128; TTY for the hearing impaired 1-866-653-4261. To find out the latest news as it is announced, call the FTC NewsPhone recording at 202-326-2710.