Ampol to acquire EG Australia in $719mn deal to expand retail network
Published on: Aug 14, 2025
Move follows sale of EG’s business in Italy and a possible sale of its U.S. operations.
Australia’s Ampol Limited has struck a binding agreement to acquire EG Group’s Australian fuel station business, EG Australia, in a deal worth A$1.1 billion (US$718.85 million). The move marks another step in Ampol’s push to strengthen its retail footprint and cement its position in the country’s competitive fuel and convenience market.
The transaction will be funded through A$800 million in cash, drawn from existing debt facilities, along with A$250 million in Ampol shares to be issued to EG Australia. It follows a pattern of strategic acquisitions by Ampol in recent years, including the purchases of Z-Energy and SeaOil, though some assets, such as Gull New Zealand, have since been divested. Once completed, the deal will add about 500 Ampol-branded company-owned and operated service stations to the network, giving the business greater scale and a stronger platform for growth.
Ampol Chairman Steven Gregg said the integration of EG Australia would deliver “significant cost synergies” and help generate strong returns and earnings growth for shareholders, reports Reuters.
The deal is still subject to approval from the Australian Competition and Consumer Commission, with Ampol anticipating clearance by mid-2026. Until then, both companies will continue operating independently. When the transaction is finalised, Ampol hopes the combined network will not only strengthen its market position but also accelerate the evolution of its convenience retail offering.
Ampol will propose to divest approximately 20 sites across locations where network overlap will occur as part of its application to the ACCC.
In August 2025, EG entered into a binding agreement to sell its Italian division to a consortium of Italian operators, further supporting its balance sheet strengthening strategy. Additionally, co-founder Zuber Issa has publicly advocated for the sale of EG’s more than $5 billion U.S. forecourt operations as an alternative to an IPO.
