The Australian Competition and Consumer Commission (ACCC) has approved Ampol’s acquisition of EG Australia, subject to the divestment of 41 retail fuel sites to preserve competition in key markets.
In a determination released on 2 June 2026, the ACCC found the $1.1 billion transaction could substantially lessen competition in 39 local fuel retail markets if allowed to proceed without conditions.
Ampol operates 576 service stations under the Ampol brand and 46 U-GO sites nationally, while EG Australia runs 512 fuel and convenience retail locations across Australia.
The competition regulator concluded the acquisition would remove “a direct and significant competitor” in affected local markets, reducing competitive pressure between the two networks and increasing market concentration.
The ACCC also noted that consumers may not view remaining fuel retailers as close substitutes due to differences in location, site facilities and convenience offerings, while high barriers to entry make new competition unlikely in the short term.
To address those concerns, the ACCC has required Ampol to divest 41 fuel retail sites to an approved purchaser. The regulator has approved Dib Group, which operates under the Metro Petroleum banner, as the buyer.
According to the ACCC, the divestment package removes competitive overlap in 25 of the 39 affected local markets while supporting the expansion of an independent fuel retailer. In the remaining 14 markets, the sale of sites will reduce Ampol’s post-acquisition market share and strengthen competition.
The regulator also identified competition concerns in metropolitan fuel markets across Brisbane, Canberra, Melbourne and Sydney, but said the divestments would reduce the level of market aggregation resulting from the acquisition.
Ampol first announced plans to acquire EG Australia in August 2024, describing the deal as a “pivotal and highly strategic step forward” for the business.
Managing Director and CEO Matt Halliday said at the time: “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 said the combined network would provide “greater choice and convenience” for customers through the expansion of Ampol’s Foodary convenience retail network, the rollout of U-GO sites and the extension of the Woolworths Everyday Rewards program.
Ampol also forecast annual synergies of between $65 million and $80 million through operational efficiencies, network integration and scale benefits.
The acquisition is expected to complete during 2026 following satisfaction of the ACCC’s conditions.
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