Australia approves Ampol's $789 million acquisition of EG Australia

Ampol

03/06/2026 01:29

    June 3 (Reuters) - Australia's competition watchdog on Wednesday approved Ampol's ALD.AX A$1.1 billion ($789.47 million) acquisition of EG Australia, the local arm of Britain's EG Group, subject to the divestment of 41 Ampol retail fuel sites.
Here are some details:
The Australian Competition & Consumer Commission (ACCC) approved Ampol Retail Holding's acquisition of EG Group Australia and EG AsiaPac Holdings, together known as EG Australia. 
Ampol and EG Australia are both retailers of fuel, including petrol and diesel, and convenience products in all Australian states and territories. 
The regulator had raised concerns in January, stating the deal could materially reduce competition, and determined that the deal should be subject to a more detailed review.
During the commission's phase 2 assessment, Ampol increased its offer to divest 41 retail fuel sites, compared with the 19 sites proposed earlier.
ACCC has approved Dib Group (Metro Petroleum) as the buyer for these sites and granted a notification waiver for the purchase to implement the divestiture without further approvals or delays.
Ampol said it expects the transaction to complete on June 30, 2026.
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.
Shares of Ampol rise as much as 3.1% in early trade to hit their highest since May 25.

($1 = 1.3933 Australian dollars)

 (Reporting by Anjali Singh in Bengaluru; Editing by Subhranshu Sahu)
 ((anjali.singh2@thomsonreuters.com;))