Australia Approves Ampol’s $789 Million Acquisition of EG Australia
Australia’s competition regulator approved Ampol’s A$1.1 billion acquisition of EG Australia after the company agreed to divest 41 fuel retail sites to address competition concerns. The ACCC approves Ampol EG Australia acquisition decision clears the way for the transaction to proceed by June 30, 2026, while Metro Petroleum’s Dib Group will acquire the divested locations. The Ampol ASX ALD EG deal is expected to strengthen Ampol’s national fuel and convenience network as part of broader fuel retail consolidation Australia trends. The acquisition will also mark EG Group’s planned exit from the Australian fuel retail market.
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Key Highlights
- Ampol has been cleared to purchase EG Australia for A$1.1bn
- Ampol was forced to sell 41 retail fuel outlets for approval.
- The divested sites will be acquired by Metro Petroleum's Dib Group.
- The transaction is a step in EG Group's planned exit from the Australian market.
- Ampol shares jumped more than 3% on the announcement.
ACCC Approves Ampol’s Acquisition of EG Australia
Ampol has secured approval from Australia’s competition watchdog for its A$1.1 billion ($789 million) takeover of EG Australia, the local unit of the British owner of grocery and convenience chain. The ACCC approves Ampol EG Australia acquisition came after the company agreed to sell 41 retail fuel sites.
EG Group Australia and EG AsiaPac Holdings collectively referred to as ‘EG Australia 'are included in the acquisition. Both Ampol and EG Australia have a network of fuel retail and convenience businesses that span all Australian states and territories selling petrol, diesel and merchandise.
Fifth Site Sale indicates Depth of Competition Concerns
In January, the ACCC had flagged its concerns that the takeover could greatly lessen competition in areas of Australia's fuel retail market. It then put the transaction under a more detailed phase-two review process to scrutinise the competitive implications.
In a further response during the review, Ampol lifted its proposed divestments to as high as 41 sites from 19 retail sites to address competition issues. Additionally, the ACCC approved Dib Group, owner of Ampol Metro Petroleum, to purchase the divested fuel stations under some conditions and also issued a waiver so that all parties could close their transactions quickly. The acquisition is estimation to be completed on June 30, 2026.
EG Group Announces Plans To Leave Australia
The deal is expected to signify the departure of EG Group from the Australian market. EG Group purchased the Woolworths Group fuel business for around $1.25 billion in 2019, its first acquisition when entering Australia since founding in 2001.
Shares in Ampol have surged by up to 3.1% in early trade, hitting their highest level since May 25, as investors cheered the approval announcement. The Ampol ASX ALD EG deal is also part of a bigger fuel retail consolidation trend in Australia with Ampol expanding its network towards nearly 500 Ampol service stations linked to the acquisition.
FAQs
- Ampol has been a long-time suitor for Australian firm EG Australia.
Ampol through a deal at the cost of A$1.1 billion (around $789 million).
2. The divested fuel stations are still unpurchased, but whose will they be?
Metro Petroleum's owner Dib Group is set to take on the sites.
3. Why is the deal important for EG Group?
The acquisition represents EG Group's planned exit from the Australia market.
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