Australian Competition Regulator Approves Ampol’s $1.1 Billion EG Australia Deal With Conditions

The Australian Competition and Consumer Commission (ACCC) announced on 2 June 2026 that it would allow the $1.1 billion transaction to proceed, provided Ampol divests 41 fuel retail locations. The regulator determined that the acquisition, if completed without conditions, could significantly reduce competition in 39 local fuel markets across the country, according to a statement released by the ACCC.

Ampol currently operates 576 service stations under its flagship brand as well as 46 U-GO sites nationwide. EG Australia runs 512 fuel and convenience retail outlets across Australia, making it one of the country’s largest fuel retail operators.

The ACCC said the transaction would remove a major competitor from several local markets. According to a statement from the regulator, EG Australia serves as “a direct and significant competitor” to Ampol in a number of areas, and combining the two businesses would increase market concentration while reducing competitive pressure between them.

The regulator also found that customers may not view other fuel retailers as effective alternatives because of differences in site location, convenience offerings and available facilities. High barriers to entry in the fuel retail sector further reduce the likelihood of new competitors entering affected markets in the near future, according to a statement from the ACCC.

To address those concerns, the ACCC required Ampol to sell 41 fuel retail sites. The regulator approved Dib Group, which operates under the Metro Petroleum brand, as the purchaser of the divestment package.

Per a statement from the ACCC, the sale of the sites will eliminate competitive overlap in 25 of the 39 local markets identified during the review. In the remaining 14 markets, the divestments are expected to reduce Ampol’s market share following the acquisition and strengthen competitive conditions.

Read more: Australia Expands ACCC Emergency Powers to Fast-Track Competition Law Exemptions

The watchdog also examined the transaction’s impact on metropolitan fuel markets in Brisbane, Canberra, Melbourne and Sydney. While competition concerns were identified in those cities, the ACCC concluded that the required divestments would lessen the degree of market concentration resulting from the deal.

Ampol first revealed plans to acquire EG Australia in August 2024, describing the transaction as a major strategic move for the company.

At the time, Ampol Managing Director and Chief Executive Officer Matt Halliday said: “The proposed EG Australia acquisition makes sense for Ampol. It is a business and market we understand well through more than five years of commercial relationship.”

Halliday also said the combined business would provide “greater choice and convenience” for customers through the expansion of Ampol’s Foodary convenience retail network, the continued rollout of U-GO locations and broader access to the Woolworths Everyday Rewards program.

Ampol has previously estimated that the transaction could generate annual synergies of between $65 million and $80 million through operational efficiencies, network integration and increased scale.

The acquisition is expected to be completed later in 2026, subject to the fulfilment of the ACCC’s divestment requirements and other remaining conditions.

Source: Prime Mover Mag