[Federal Register Volume 82, Number 124 (Thursday, June 29, 2017)]
[Notices]
[Pages 29582-29583]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-13619]


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DEPARTMENT OF LABOR

Employee Benefits Security Administration

[Exemption Application No. D-11825]


Withdrawal of Notice of Proposed Exemption Involving the ABARTA, 
Inc. Pension Plan (the Plan) Located in Pittsburgh, PA

    In the Federal Register dated May 12, 2016 (81 FR 29696), the 
Department of Labor (the Department) published a notice of proposed 
exemption (the Notice) from the prohibited transaction restrictions of 
the Employee Retirement Income Security Act of 1974, as amended, and 
from certain taxes imposed by the Internal Revenue Code of 1986, as 
amended. The Notice concerned the following proposed transactions: (a) 
The in-kind contribution (the Contribution) to the

[[Page 29583]]

Plan by ABARTA Inc. (ABARTA), the Plan sponsor and a party in interest 
to the Plan, of ABARTA's 100% ownership interests in two special LLCs 
(together, the LLCs), each of which owns, as its only asset, a parcel 
of improved real property (the Properties); (b) following the 
Contribution, the Plan's leasing of the Properties (the Leases) to two 
of ABARTA's subsidiaries (the Tenants), and a one-time renewal of such 
Leases (the Lease Renewals); (c) the guarantees by the Tenants to the 
Plan in connection with a make whole obligation (the Make Whole 
Obligation), and any payments to the Plan in fulfillment of such Make 
Whole Obligation; (d) each Tenant's indemnification of the Plan in 
connection with the Leases and Lease Renewals; (e) the Plan's granting 
of a right of first offer (the Right of First Offer) to each Tenant, 
whereby, under certain circumstances, a Tenant may purchase the 
Property or LLC Interest that is subject to such Tenant's Lease; and 
(f) a sale by the Plan of a Property or LLC Interest to a Tenant in 
connection with such Tenant's exercise of its Right of First Offer.
    Subsequent to the publication of the Notice in the Federal 
Register, the Department was informed that ABARTA had decided not to 
pursue the requested exemption due to changed circumstances. Therefore, 
the Department is hereby withdrawing the Notice from the Federal 
Register.

    Signed at Washington, DC, this 26th day of June 2017.
Lyssa E. Hall,
Director, Office of Exemption Determinations, Employee Benefits 
Security Administration, U.S. Department of Labor.
[FR Doc. 2017-13619 Filed 6-28-17; 8:45 am]
 BILLING CODE 4510-29-P