PHILADELPHIA (Legal Newsline) — The Federal Trade Commission (FTC) has approved a final order that resolves ArcLight Energy Partners Fund VI LP’s acquisition case.
ArcLight sought to acquire Gulf Oil Limited Partnerships from its parent company, Cumberland Farms Inc. The FTC had concerns that the acquisition would likely be anti-competitive. Under the order, ArcLight and Gulf must divest four of Gulf’s Pennsylvania light petroleum product terminals to Arc Logistics Partner LP or another acquirer that the FTC approves.
The terminals in question are in Altoona, Pittston Township in the Scranton market, and Mechanicsburg and Williamsport in the Harrisburg market.
As part of the deal, ArcLight must maintain minimum throughput volumes during the transition to supply Arc Logistics with renewable fuels and allow customers to cancel with no penalties so that Arc Logistics can compete for them.
The commission voted 4-0 to approve the final order.