The Australian Competition and Consumer Commission (ACCC) has announced that Ampol Retail Holding Pty Ltd’s acquisition of EG Group Australia and EG AsiaPac Holdings will undergo a Phase 2 review. This decision follows the ACCC's Phase 1 assessment, which did not approve the acquisition due to concerns about its impact on competition in the retail supply of petrol and diesel across various Australian markets.

ACCC Commissioner Dr. Philip Williams highlighted that the merger would combine two significant fuel retailers, raising concerns about competition in local markets. The ACCC identified 115 EG sites where the acquisition could substantially lessen competition, particularly in metropolitan areas such as Brisbane, Canberra, Melbourne, and Sydney.

Ampol's proposal to divest 19 retail fuel sites was deemed insufficient to address the competition issues identified, prompting the ACCC to conduct a more thorough Phase 2 assessment. The ACCC has not yet reached a conclusion and is inviting submissions regarding the acquisition until February 4, 2026.

This case marks the first assessment under the new merger control regime, which became mandatory on January 1, 2026. Under this regime, businesses must notify the ACCC of acquisitions that meet specific thresholds and cannot proceed without approval.