Locke Lord’s Van Jolas and Brad Weber (both of Dallas) represented Hollingsworth Oil Company, Inc., and related parties in negotiating an agreed consent order with the Federal Trade Commission to divest certain retail fuel assets that were part of a transaction between Hollingsworth and Tri Star Energy, LLC. The agreement – which was quickly facilitated by Jolas and Weber amid the COVID-19 pandemic – settles charges that the proposed acquisition of certain Hollingsworth fuel stations by Tri Star would violate federal antitrust law, as both parties operate fuel outlets and convenience stores in the central Tennessee area. According to the FTC’s complaint, the acquisition of these assets by Tri Star would have harmed competition for both retail gasoline and diesel in the Whites Creek and Greenbriar, Tennessee, markets. Under the terms of the consent order, Tri Star will divest its assets in these markets to Cox Oil Company, Inc., within 10 days after the completed acquisition.
Posted on July 7, 2020