Jefferies backs Ampol's over $700 mln EG Australia deal; draws Z Energy parallels

Ampol

14/08/2025 21:29

** Jefferies draws parallels between Ampol's ALD.AX $718.9 mln EG Australia deal and $1.3 bln takeover of Z Energy back in 2021

** Brokerage says EG deal offers similar strong strategic rationale, given substantial synergies, opportunity for conversion into self-service fuel stations

** Adds ALD board has again shown financial discipline and patience, paying sensible price and employing pragmatic capital structure

** EG Group, a global operator of fuel & convenience sites, purchased Woolworths' WOW.AX network of about 540 service stations for A$1.73 bln ($1.12 bln) in April 2019

** Brokerage has A$31.50 PT and "buy" rating on stock

** Stock down 4% YTD

($1 = 1.5399 Australian dollars)

(Reporting by Rishav Chatterjee in Bengaluru)

((Rishav.Chatterjee@thomsonreuters.com))