Following a public comment period, the Federal Trade Commission has approved an application by Energy Transfer Partners, L.P. and Energy Transfer Partners, GP, L.P., requesting approval to sell their Heritage Propane Express business to JP Energy Partners, LP. FTC approval of the sale is required by a settlement order under which the Commission allowed AmeriGas Partners, L.P., to acquire the propane assets of Energy Transfer Partners, but only after the parties excluded Heritage Propane Express from their transaction.
The settlement order resolved FTC charges that the Amerigas/Energy Transfer Partners transaction, as originally agreed to by the parties, would have reduced competition and likely raised prices in the market for propane exchange cylinders used to fuel barbeque grills and patio heaters. Under the order, after the original deal was changed to exclude the Heritage Propane Express business, Energy Transfer Partners was required to obtain the prior approval of the Commission before selling Heritage Propane Express.
The Commission vote approving the application was 4-0-1, with Commissioner Maureen K. Ohlhausen not participating. (FTC File Docket No. C-4346; the staff contact is Daniel P. Ducore, Bureau of Competition, 202-326-2526; see press release dated January 11, 2012.)
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