Canberra, January 21, 2026 — The Australian Competition and Consumer Commission (ACCC) has referred Ampol Retail Holding Pty Ltd’s proposed acquisition of EG Group Australia and EG AsiaPac Holdings (together, EG Australia) to a Phase II review, saying the deal requires further in-depth assessment.
Ampol and EG Australia both retail fuel, including petrol and diesel, as well as convenience products across all Australian states and territories.
The ACCC said it is satisfied the acquisition could substantially lessen competition in the retail supply of petrol and diesel in several Australian markets. Commissioner Dr Philip Williams said the deal would combine two major fuel retailers, with the regulator identifying 115 EG sites where the acquisition could raise competition concerns in relevant local markets.
The ACCC is also considering whether the deal could substantially lessen competition across metropolitan areas, including Brisbane, Canberra, Melbourne, and Sydney.
Ampol has offered to divest 19 retail fuel sites, but the ACCC said the proposal does not adequately address the issues it has identified at either the local or metropolitan level, prompting the referral to Phase 2.
The regulator said it has not reached a final conclusion and will continue its assessment under Phase II. The ACCC has invited submissions in response to its Phase II notice by February 4, 2026, and said interested parties can contact the agency via mergers@accc.gov.au.
The ACCC described the Ampol-EG Australia matter as the first assessment to be referred to Phase II under Australia’s new merger control regime, which became mandatory on January 1, 2026. Under the updated system, businesses must notify the ACCC of acquisitions that meet ministerial thresholds and wait for approval before proceeding.
The ACCC said it must make a Phase I decision within 15 to 30 business days, subject to extensions, either approving the deal or referring it for Phase II review. An in-depth assessment can take up to 90 business days unless extended in specific circumstances.
More information, including the Phase II notice, is expected to be published on the ACCC’s acquisitions register.
Source: https://www.accc.gov.au/media-release/accc-refers-ampols-acquisition-of-eg-australia-to-phase-2
