Commission approval of proposed divestitures:
The Commission has approved a proposed divestiture by Bayer AG concerning its recent acquisition of Aventis CropScience Holding S.A. Under the terms of the consent order conditionally approving this transaction, Bayer is required to divest certain assets. Through an application submitted to the FTC and made public on September 18, 2002, Bayer petitioned the Commission to approve the divestiture of its "Flucarbazone Assets" (as that term is defined in the order) to Arvesta Corporation (Arvesta). By a vote of 5-0, the Commission has approved the proposed divestiture to Arvesta. (Docket No. C-4049; staff contact is Daniel P. Ducore, Bureau of Competition, 202-326-2526; see press release dated May 30, 2002.)
The Commission has approved a proposed divestiture by ConocoPhillips concerning the recent merger of Conoco Inc. and Phillips Petroleum Company. Under the terms of the consent order conditionally approving this transaction, ConocoPhillips is required to divest certain assets including assets related to Phillips' Jefferson City and East St. Louis propane terminals.
ConocoPhillips petitioned the Commission to approve the divestiture of the "Propane Business" (as that term is defined in the order) to NGL Supply, Inc., a wholly owned subsidiary of NGL Supply, Inc. (NGL Supply), and to approve the related agreements as required by Paragraph IV.D. of the order. Through this action, by vote of 5-0, the Commission has approved the proposed divestiture to NGL Supply. (FTC File No. 021-0040, Docket No. C-4058; staff contact is Daniel P. Ducore, Bureau of Competition, 202-326-2526; see press releases dated August 30 and September 20, 2002.)
Commission authorization to file amended complaint:
The Commission has authorized the staff to file an amended complaint in the court case currently pending against Perfumes Unlimited, et al. The complaint is one of several that the FTC brought and referred to the Department of Justice (DOJ), in June 2002, through "Project Busted Opportunity," which focused on business opportunity fraud. Through this action, the FTC has responded to a DOJ request to add two individuals, Lon Finkelstein and Robert Duke, as defendants in this matter. The Commission vote authorizing the staff to file the amended complaint, with referral to DOJ, was 5-0. (FTC File No. X020086; staff contacts are Daniel R. Salsburg and James Kohm, Bureau of Consumer Protection, 202-326-3402 or 202-326-2640; see press release dated June 20, 2002.)
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. Call toll-free: 1-877-FTC-HELP.