- The Federal Trade Commission (“FTC”) reached an agreement with energy company Tri Star Energy LLC after determining that its proposed acquisition of certain assets from Hollingsworth Oil Company, Inc. and related entities (collectively “Hollingsworth”) would harm competition and violate the FTC Act and the Clayton Act.
- The complaint alleged that, because Tri Star Energy and Hollingsworth both own and operate gas stations and convenience stores in middle Tennessee, the proposed acquisition would harm competition and create a monopoly in the retail gasoline and diesel market in that geographic region.
- Under the terms of the consent order, Tri Star Energy will divest its retail fuel assets in middle Tennessee to Cox Oil Company, Inc. within 10 days after completing the acquisition, and the FTC may appoint a divestiture trustee should Tri Star Energy not perform its obligations under the consent order.