0801007 Informal Interpretation

us-ftc-hsr-informal-interpretations-177b8e0078d81b34ec4af96718ad22320801007 Informal InterpretationGuidance

Date
Rule
15 USC 18a(c)(4), 802.4
Staff
Michael Verne
Response/Comments
Agree. M. Bruno and K. Walsh concur.

Question

From:(redacted)

Sent:Friday, January 11, 2008 11:27 AM

To:Verne, B. Michael

Subject:Transfer from a State Agency

Mike,

Iam writing to memorialize advice you provided in our telephone conversationyesterday regarding the application of the Hart-Scott-Rodino Antitrust ImprovementsAct 1976 (the "Act") to the proposed transaction described below.

S, a pension fund which is a State agency, holds acontrolling interest in P, a limited partnership. P holds voting securities ofvarious corporations (some controlling interests and some minority interests).S proposes to sell its interest in P to Buyer which is not a State agency.

Youadvised that Buyer's acquisition from S of a controlling interest in P isexempt from the requirements of the Act under Section 7A(c)(4) of the Act andthat the indirect acquisition by Buyer of the voting securities held by P isexempt under 16 C.F. R. 802.4.

Basedon our conversation I concluded that the proposed transaction would be exemptfrom the requirement of the Act. If I have misstated your advice, please let meknow.

Best regards,


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