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AUGUSTA – The state Attorney General’s Office said Thursday it has given conditional approval to the sale of Irving Oil’s home heating fuel business in northern and eastern Maine to Dead River Co.
The conditions imposed by a consent decree affect the propane portion of the business and are intended to resolve antitrust concerns, officials said.
“Our antitrust review showed that post-acquisition, Dead River would have a monopoly position in the wholesale propane market in Aroostook County,” said Assistant Attorney General Francis Ackerman. “This was an obvious cause for concern.”
The sale included heating oil and propane operations at Irving’s branch offices in Fort Kent, Caribou, Mars Hill, Houlton, Millinocket, Calais and Machias. Terms of the deal were not disclosed.
The consent decree requires Dead River to offer wholesale storage capacity at its Caribou propane bulk facility to Irving and at least one other competing wholesaler, on a so-called “throughput” basis.
The order also commits Irving to offer to supply Aroostook County propane retailers with their propane needs, in competition with Dead River. In addition, Irving must sell its bulk storage facility in Presque Isle to a company willing to enter the wholesale propane market.
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