FTC Approves SCI Applications to Divest Assets as Required Under Order Settling Charges That Its Acquisition of Stewart Enterprises, Inc. Would Be Anticompetitive
- Created on Monday, 12 May 2014 16:57
- Written by IVN
Lancaster, California - Following a public comment period, the Federal Trade Commission has approved applications by Service Corporation International (SCI) to divest certain funeral and cemetery assets, as required under the FTC’s December 2013 proposed order settling charges that SCI’s acquisition of Stewart Enterprises, Inc. would be anticompetitive.
In total, the proposed order requires the combined SCI/Stewart to divest 53 funeral homes and 38 cemeteries to ensure competition is maintained in 59 communities throughout the United States.
The FTC has approved the divestiture of two businesses located in Lancaster, California to Angeleno Mortuaries, Inc. (Angeleno) and approved a facilities agreement between Angeleno and S.E. Funeral Homes of California as requested.
The FTC has approved the divestiture of assets in Louisiana and Virginia to Carriage Services, Inc., and in Florida and Mississippi to Legacy Funeral Holdings, Inc.; Legacy Funeral Holdings of Florida, LLC; and Legacy Funeral Holdings of Mississippi, LLC as requested .