Antitrust Law Daily Wrap Up, WORTH NOTING—Other Antitrust and Trade Regulation developments, (Sep 7, 2016)

A periodic roundup of other items of interest to the Antitrust and Trade Regulation community:

ACQUISITIONS & MERGERS NEWS: The Canada Competition Bureau has reached an agreement with Couche-Tard regarding its proposed acquisition of retail gasoline sites from Imperial Oil, the Bureau announced today. The agreement resolves the Bureau’s concerns that the proposed transaction would likely result in a substantial lessening or prevention of competition in the retail sale of gasoline in certain markets in Ontario and the Greater Montreal Area. In March 2016, Imperial Oil announced its intention to sell its 497 Esso retail stations to Couche-Tard and four other fuel distributors. Couche-Tard is proposing to acquire 51 retail gasoline sites in the Greater Montreal Area and 242 in Ontario for an approximate (Can.) $1.7 billion. Imperial Oil is an integrated oil company based in Alberta with chemical operations related to crude oil, natural gas, and refined products. Headquartered in Quebec, Couche-Tard operates convenience stores and fuel retailing chains in North America and Europe under several banners, including Circle K, Couche-Tard, Mac’s, Kangaroo Express, Statoil, Ingo, Topaz and Re.Store. Under the terms of the consent agreement registered with the Competition Tribunal, Couche-Tard must sell the Mac’s-branded retail gas station in Carleton Place, Ontario, and the Esso-branded station in St-Bruno-de-Montarville, Quebec.

ACQUISITIONS & MERGERS NEWS: The U.K. Competition and Markets Authority (CMA) has accepted undertakings from Iron Mountain Inc. to sell C21 Data Services in Aberdeen and Dundee to an approved buyer, the CMA announced today. Iron Mountain and Recall Holdings both provide records management services, which comprise the storage and retrieval of paper and hard copy records, and physical offsite data protection services, which involve the storage and retrieval of data and media on tapes/discs. In June 2015, Iron Mountain entered into an agreement to acquire Recall. In its final report published on June 16, the CMA determined that the merger may result in a substantial lessening of competition in the Aberdeen and Dundee areas by reducing alternatives for customers of records and information management services, as well as in the supply of specialist services to oil and gas customers in the Aberdeen area. The agency concluded that Iron Mountain would have to sell Recall’s existing operations in Aberdeen and Dundee, known as C21 Data Services, in order to preserve competition. Iron Mountain has therefore offered undertakings to sell the entire share capital of C21 Data Services to a buyer to be approved by the CMA.

ACQUISITIONS & MERGERSNEWS: The Australian Competition and Consumer Commission (ACCC) has released updated guidelines on its use of mandatory information gathering powers under the Competition and Consumer Act 2010 (CCA), which includes a basic guide for individuals and small businesses. Section 155 of the CCA contains compulsory information gathering powers that the ACCC can use to require parties to provide information and documents, or give evidence under oath or affirmation. A key change to the guidelines concerns consultation between the ACCC and the recipient of a Section 155 notice. Where appropriate, the ACCC may consult with a proposed recipient of a notice before it is issued, leading to efficiencies for both the recipient and the ACCC by better understanding the recipient’s document management system and digital environment. The ACCC also has published "Section 155 Information Gathering Powers: A Basic Guide for Individuals and Small Business," which includes frequently asked questions (FAQs) and examples of parts of a Section 155 notice for information.

Companies: Alimentation Couche-Tard Inc.; Imperial Oil Ltd.; Iron Mountain Inc.; Recall Holdings Ltd.

News: AcquisitionsMergers Antitrust