Announced Actions for November 8, 1996

Applications for approval of transactions: The FTC has received an application for approval for a transaction from the following. The FTC is seeking public comments on the application for 30 days, until Dec. 9.

• The FTC has received an application from NGC Corporation, of Houston, Texas, for approval to divest its 80 percent interest in the Mont Belvieu I natural gas liquids fractionation facility in Mont Belvieu, Texas, to Koch Hydrocarbon Company, a division of Koch Industries, Inc. based in Wichita, Kansas. Divestiture of NGC’s interest in this plant is required under a proposed consent order that would settle charges over NGC’s plan to acquire certain natural gas transportation and processing assets from Chevron Corporation. The FTC had alleged the acquisition would have left only two companies operating four fractionation plants in Mont Belvieu, the nation’s hub for such services. (See Aug. 28, 1996 news release for more details regarding this transaction; FTC File No. 961 0046). Staff contact is Elizabeth Piotrowski, 202-326-2623.

Comments on the application should be addressed to the FTC, Office of the Secretary, 6th Street and Pennsylvania Avenue, N.W., Washington, D.C. 20580. Copies of the documents referenced above are available from the FTC’s Public Reference Branch, Room 130, at the same address; 202-326-2222; TTY for the hearing impaired 1-866-653-4261. To find out the latest news as it is announced, call the FTC NewsPhone recording at 202- 326-2710. FTC news releases and other materials also are available on the Internet at the FTC’s World Wide Web site at: http://www.ftc.gov