| 2018-08-20 14:46:08|
CAPL, ANDV… 14:46 08/20 08/20/18
FTC approves Alimentation Couche-Tard sale of two Minnesota fuel stations
The Federal Trade Commission has approved an application by Alimentation Couche-Tard (ANCUF) to divest two retail fuel stations in Minnesota. The divestitures are required under the FTC's Feb. 15, 2018 final order settling charges that ACT's proposed acquisition of Holiday Companies would violate federal antitrust law. The application requests that the FTC approve the divestiture of the two retail fuel stations located in Saint Peter and Minnetonka to the Andeavor Corporation (ANDV) subsidiary Northern Tier Retail. The application also included a third station in Saint Paul, but ACT later asked to divest the station to Twin City Petroleum & Property instead. That application is pending final approval by the Commission. Under the terms of the consent agreement, ACT and its affiliate, CrossAmerica Partners (CAPL) are required to identify a buyer or buyers that are acceptable to the Commission within 120 days after the issue date of the order, which was June 15, 2018, and to divest 10 retail fuel stations. The agreement also requires ACT and CAPL to maintain the economic viability, marketability, and competitiveness of each station until the divestiture is complete.