Australia's Ampol submits final remedy plan to secure regulatory nod for EG Australia deal

Ampol

23/04/2026 24:46

April 23 (Reuters) - Australian fuel retailer Ampol ALD.AX said on Thursday it has submitted a final remedy offer to the competition regulator over its A$1.1 billion ($787.27 million) takeover of EG Australia, the local arm of Britain's EG Group.

Here are some details:

The final remedy offer includes divestment of four additional sites, lifting the total remedy offered by the fuel retailer to 41 sites, the company said.

The Australian Competition & Consumer Commission (ACCC) had determined in January that the deal should be subject to a more detailed (phase 2) review.

The regulator had expressed concerns with the deal, saying it will dampen competition across markets.

Earlier in the month, Ampol proposed divestment of 37 sites, believing it will "fully address" any remaining competition concerns held by ACCC.

The company plans to divest these sites as a package. It has identified and made material progress in talks with potential buyers, it said.

The takeover deal, if completed, would mark EG Group's exit from Australia. The British petrol retailer entered the market in 2019 after buying supermarket chain operator Woolworth's WOW.AX fuel business for $1.25 billion.

Ampol reiterated that it expects ACCC's phase two determination by June 5.

The transaction is expected to be completed in mid-2026, subject to ACCC approval.

($1 = 1.3972 Australian dollars)

 (Reporting by Sruthi Narasimha Chari in Bengaluru; Editing by Vijay Kishore)

 ((SruthiNarasimha.Chari@thomsonreuters.com;))