Ampol ‘confident’ as ACCC progresses phase two review of $1b EG buyout
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The news: Fuel retailer and refiner Ampol “remains confident in its position” over its proposed acquisition of EG Australia, after the Australian Competition and Consumer Commission (ACCC) published its ‘Notice of Competition Concerns’ (NOCC) this morning.
The context: In January the ACCC said the planned $1 billion buyout should be subject to a more detailed, or ‘phase two’, review. Under the new mandatory merger regime, the regulator is obliged to publish a NOCC summary document as an intermedia step in any phase two review process.
Ampol said the NOCC identifies several issues that are no longer under investigation and other matters that are under ongoing assessment.
The ACCC’s updated assessment identifies 54 EG Australia sites within 51 local areas that give rise to competition concerns, with further analysis required on all of those sites.
The regulator is also considering an additional 20 local areas, though no preliminary assessment has yet been formed on whether those local areas would give rise to competition concerns.
The ACCC is continuing to review “metropolitan-wide” effects of the proposed acquisition in Brisbane, Melbourne, Sydney and Canberra. Ampol’s post-transaction market share, by site, in those locations would be 21%, 19%, 20% and 31% respectively.
A determination by the regulator is due by 5 June.
What they said: “Ampol notes that the update published today demonstrates progress in the ACCC’s assessment since issuing its previous notification on 21 January 2026, in which the ACCC identified 115 sites requiring further review,” the company said.
“Ampol remains confident in its position and will continue to work constructively with the ACCC to address the issues identified in the NOCC.”
The source: ASX
