The Federal Trade Commission today announced the following actions:
Commission action regarding applications for approval:
The FTC has approved an application from the following: Exxon Mobil Corp. The application concerns Exxon Mobil's request to divest Mobil Pipe Line Company's interest in Colonial Pipeline Company and Colonial Ventures, L.L.C. (Colonial), as required by Paragraph IX.A.-B. of the Commission's proposed decision and order in Docket No. C-3907. Through the proposed divestiture, Mobil's interests would be repurchased by Colonial and would be acquired by the pipeline's remaining owners.
The Commission vote to approve the application was 4-0, with Commissioner Thomas B. Leary recused. (FTC Docket No. C-3907; staff contact is Daniel P. Ducore, 202-326-2526; see press release dated November 30, 1999.)
The FTC has approved an application for divestiture in the following matter:
BP-Amoco p.l.c./Atlantic Richfield Company (ARCO). Under the terms of a proposed Commission order dated April 12, 2000, BP-Amoco and ARCO are required to divest, with the Commission's approval, certain crude oil transportation and storage assets located in and near Cushing, Oklahoma. Through this action, the Commission has approved the divestiture of ARCO's Cushing assets to the Texas Eastern Products Pipeline Company (TEPPCO).
The Commission vote to approve the application was 5-0. (FTC Docket No. C-3938; staff contact is Daniel P. Ducore, 202-326-2526; see press release dated April 13, 2000.)
Commission extension of time period:
The FTC has approved the extension of a time period in the following matter: Baxter International, Inc. Under the order in Docket No. C-3726 which concerned Baxter's acquisition of Immuno International AG, Haemacure Corporation, the acquirer approved by the Commission in this matter, was required to obtain all necessary approvals to manufacture Fibrin Sealant for sale in the United States by July 28, 2000. The Commission's approval in the current matter - which was requested by the trustee overseeing the divestiture process - extends by 12 months the time that Haemacure has to obtain all necessary FDA approvals to manufacture this product.
The Commission vote to approve the time period extension was 5-0. (FTC Docket No. C-3726; staff contact is Joseph Eckhaus, 202-326-2665; see press release dated December 19, 1996.)
Copies of the documents mentioned in this release are available from the FTC's Web site at http://www.ftc.gov and also from the FTC's Consumer Response Center, Room 130, 600 Pennsylvania Avenue, N.W., Washington, D.C. 20580; toll free: 877-FTC-HELP (877-382-4357); TDD 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.
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