ACCC Escalates Ampol’s EG Australia Deal to Phase 2 Review
The Australian Competition and Consumer Commission has advanced its review of Ampol’s acquisition of EG Australia to a more detailed Phase 2 assessment, signalling potential competition concerns. Ampol remains optimistic about completing the deal by mid-2026 despite the regulatory scrutiny.
- ACCC moves Ampol’s EG Australia acquisition to Phase 2 review
- Phase 2 involves deeper competition assessment over potential market impact
- Ampol confident and committed to working with ACCC through the process
- Transaction expected to complete by mid-2026 barring extensions
- Phase 2 review period up to 90 business days, possibly longer
Regulatory Hurdle Intensifies
Ampol Limited’s proposed acquisition of EG Australia has entered a critical phase in its regulatory journey, with the Australian Competition and Consumer Commission (ACCC) announcing a move to a Phase 2 assessment. This escalation follows the ACCC’s preliminary review, where concerns about potential competition issues were identified.
The Phase 2 review is a more rigorous and detailed examination, focusing on whether the acquisition would substantially lessen competition in the fuel retailing market. This is a higher threshold than the initial Phase 1 assessment, reflecting the ACCC’s cautious approach to preserving market dynamics and consumer choice.
Ampol’s Response and Outlook
Despite the intensified scrutiny, Ampol has expressed confidence in its position and reiterated its commitment to cooperating constructively with the ACCC throughout this extended review period. The company remains optimistic that the transaction will proceed as planned, targeting completion by mid-2026.
The Phase 2 process is expected to take up to 90 business days, though this timeframe could be extended depending on the complexity of issues uncovered. Ampol’s management will be closely monitoring developments, balancing regulatory compliance with strategic ambitions to expand its footprint in Australia’s competitive fuel retail sector.
Market and Strategic Implications
The move to Phase 2 signals that the ACCC sees potential risks in the merger’s impact on competition, which could lead to conditions or modifications to the deal. For investors and market watchers, this introduces an element of uncertainty around the timeline and final structure of the acquisition.
Should the ACCC impose remedies or block parts of the deal, Ampol’s growth strategy and market positioning could be affected. Conversely, a successful clearance would solidify Ampol’s presence and potentially reshape the competitive landscape in fuel retailing across Australia.
Bottom Line?
As Ampol navigates this intensified regulatory scrutiny, the outcome of the ACCC’s Phase 2 review will be pivotal for the company’s expansion ambitions and market dynamics.
Questions in the middle?
- What specific competition concerns has the ACCC identified in the Phase 1 review?
- Could the Phase 2 assessment lead to conditions or divestments imposed on Ampol?
- How might delays or changes to the acquisition affect Ampol’s financial outlook and strategy?
