The FTC OKd the sale of Getty’s service stations.
Texaco Inc. said it sold 600 Getty stations and nine wholesale petroleum terminals for $95 million to Power Test Corp. of Plainview, N.Y. Texaco acquired Los Angeles-based Getty a year ago and had been ordered by the Federal Trade Commission to divest Getty’s Northeastern marketing operations. Power Test will also acquired the Getty trademark in most states east of the Mississippi. As part of the deal, Texaco agreed to supply the company with up to 66 million barrels of gasoline and 33 million barrels of diesel fuel and heating oil over the next three years.
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