The Australian Competition and Consumer Commission has referred Ampol's (ASX:ALD) Ampol Retail proposed acquisition of EG Group Australia and EG AsiaPac Holdings—collectively known as EG Australia—for a detailed Phase 2 review, signaling concerns over competition in the fuel retail sector.
The ACCC’s decision means the acquisition has not been approved in its initial Phase 1 assessment.
Both Ampol and EG Australia operate extensive networks selling petrol, diesel, and convenience products across all Australian states and territories.
ACCC Commissioner Dr Philip Williams said the acquisition "would combine two major fuel retailers in Australia" and could substantially lessen competition in multiple local and metropolitan markets.
The regulator has identified 115 EG sites where the merger could reduce competition and raised concerns about metropolitan areas including Brisbane, Canberra, Melbourne, and Sydney.