The Australian Competition and Consumer Commission has approved Ampol’s acquisition of EG Australia, clearing the way for the retailer to strengthen its dominance in fuel distribution. The approval comes with conditions requiring Ampol to divest 41 retail fuel sites across Australia to address competition concerns that emerged during the ACCC’s review.
The acquisition combines two major players in Australia’s retail fuel market. Ampol currently operates 622 sites across the country under the Ampol and U-GO brands, while EG Australia runs 512 sites. The ACCC’s primary concern was that without intervention, the combined entity would substantially lessen competition in 39 local markets where the two retailers’ sites overlap. In these markets alone, the merged company would have controlled both a divested site and an Ampol site, creating potential for reduced consumer choice and upward pressure on fuel prices at a time when Australians are already sensitive to cost of living pressures.
Ampol’s initial divestiture proposal of 19 sites proved insufficient to address the regulator’s concerns. During the ACCC’s Phase 2 assessment, the company increased its commitment to divest 41 sites, a more substantial remedy that ultimately satisfied the commission. The ACCC approved Metro Petroleum, operated by Dib Group, as the purchaser of these divested sites. Metro Petroleum’s existing network of over 300 sites positions it to become a meaningful competitor in the 39 markets where the divestiture occurs, creating what the ACCC described as a strong, independent and viable long-term rival to the combined Ampol-EG entity.
For Ampol investors, the approval resolves a key uncertainty that could have delayed the transaction or required additional concessions. The merger is strategically valuable because Ampol is already EG Australia’s exclusive fuel supplier under existing agreements, and EG’s retail sites are required to carry the Ampol brand. The acquisition essentially formalizes a relationship that already exists in practice, while consolidating EG Australia’s operations into Ampol’s structure. The divestiture of 41 sites represents a manageable reduction relative to the combined portfolio, minimizing the economic impact of the regulatory remedy.
The ACCC granted Metro Petroleum a notification waiver, eliminating the need for further approvals that could have delayed implementation. This expedited process demonstrates the regulator’s commitment to managing mergers efficiently under the new regime introduced on 1 January 2026, when mandatory notification thresholds came into effect. Investors should monitor the transfer of the 41 divested sites to Metro Petroleum and track how the reduced combined entity performs in competitive markets, particularly around fuel price movements and market share trends in the affected local markets. This announcement is price sensitive and has been flagged as material by the ASX.
View the full ASX announcement (PDF)
About Ampol Limited (ASX: ALD)
Ampol Limited is Australia’s largest petroleum refiner and distributor, operating the Lytton refinery and around 2,000 branded fuel service stations across Australia and New Zealand. The company sources, imports, refines and distributes crude oil, fuels and lubricants, and also operates convenience retail stores and provides electric vehicle charging solutions. It serves customers in defence, mining, transport, marine, agriculture, aviation and other commercial and industrial sectors across Australia, New Zealand, Singapore and the United States.
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