The Australian Competition and Consumer Commission approved Viva Energy Group's acquisition of OTR Group.
The decision came following a court-enforceable undertaking from Viva Energy to sell 25 of its sites in South Australia to an ACCC-approved buyer.
Chevron Australia Downstream has been approved as the purchaser of the 25 sites, with Viva Energy to receive 13 Chevron sites in return.
The regulator reviewed potential competition issues in overlapping areas, mainly South Australia and the Northern Territory.
The acquisition is projected to be completed in the first half of 2024, pending approval from the Foreign Investment Review Board.