Australia's Ampol to buy EV charging operator Evie Networks for $156 million

Ampol

01/10/2026 01:38

Oct 1 (Reuters) - Australian fuel retailer Ampol ALD.AX said on Thursday it had agreed to buy electric vehicle charging company Evie Networks for A$225 million ($156.26 million), bolstering its footprint in the fast-growing domestic public EV charging market.
 
Here are some more details:
The deal would give Ampol a combined network of about 1,425 charging bays across more than 400 sites. 
The combined business is expected to achieve annualised earnings before interest, taxes, depreciation and amortisation of A$30 million, including synergies, within three years of completion.
Ampol's unit Ampol Energy has entered into a share sale agreement to acquire 100% of Fast Cities Australia, which operates as Evie Networks. Evie Networks owns 1,031 direct current charging bays across 322 sites in Australia.
The deal is expected to complete in the first half of 2027, pending approval from the Australian Competition and Consumer Commission (ACCC).
Shares of Ampol were down 2.4% at A$43.05, as of 0019 GMT, compared with a more than 1% decline in the broader energy sub-index .AXEJ.


($1 = 1.4399 Australian dollars)

 (Reporting by Rudrannsh Mehra; Editing by Subhranshu Sahu)
 ((Rudrannsh.Mehra@thomsonreuters.com;))