Commission approval of proposed divestitures: The Commission has approved a petition seeking approval of three proposed divestitures required under the FTC’s order regarding Valero L.P.’s (Valero) recent acquisition of Kaneb Services LLC (Kaneb). Under the terms of the consent order, Valero and Kaneb are required to divest: 1) the West Pipeline System; 2) the Philadelphia Area Terminals; and 3) the San Francisco Bay Terminals, as those terms are defined in the order, to Commission-approved purchasers. Through their petition, Valero and Kaneb requested FTC approval to divest all three assets to Pacific Energy Group LLC, or one of its wholly owned subsidiaries, per a July 1, 2005, purchase agreement between the relevant companies. The Commission has now approved each of the proposed divestitures.
The Commission vote approving the divestitures was 3-0-1, with Chairman Deborah Platt Majoras recused. (FTC File No. 051-0022, Docket No. C-4141; the staff contact is Elizabeth A. Piotrowski, Bureau of Competition, 202-326-2623; see press releases dated June 15 and July 15, 2005.)
Commission authorization of the staff to file amended complaint: The Commission has authorized the staff to file an amended complaint in the currently pending matter concerning Prime One Benefits, et al. The FTC’s original complaint in this matter, filed in November 2004 as part of the agency’s ongoing efforts to fight cross-border fraud, alleged the defendants falsely claimed that consumers who paid a fee ranging from $159 to $236 would be guaranteed a low-interest rate, high-credit limit, and no-annual-fee MasterCard or Visa credit card. Through this action, the staff has added three corporate defendants, 1284383 Ontario Inc., d/b/a First National Credit Services and Direct Service Management; 1309529 Ontario Inc., d/b/a U.S. National Credit; and Simax Corp., d/b/a America’s Gift House; and an individual defendant, Mishele Wells, to the Commission’s complaint. The Commission vote authorizing the staff to file the amended complaint was 4-0. (FTC File No. X050010; the staff contact is Karen D. Dodge, FTC Midwest Region, Chicago, 312-960-5634; see press release dated November 16, 2004.)
Commission approval of final consent order: Following a public comment period, the Commission has approved the issuance of a final consent order in the matter concerning Advertising.com, Inc., dba Teknosurf.com, and John Ferber, individually and as an officer of the corporation. The Commission vote to approve the final consent order was 4-0. (FTC File No.042-3196; the staff contact is Thomas B. Pahl, 202-326-2128; see press release dated August 3, 2005.)
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, DC 20580. Call toll-free: 1-877-FTC-HELP.