The ACCC has decided that Ampol Retail Holding Pty Ltd's (ASX:ALD) acquisition of EG Group Australia and EG AsiaPac Holdings (together, EG Australia) requires further in-depth assessment by the ACCC.
This means the ACCC has not approved the acquisition in its Phase 1 assessment and the transaction will move to a Phase 2 review.
Ampol and EG Australia both retail fuel, including petrol and diesel, and convenience products in all Australian states and territories.
The ACCC is satisfied that the acquisition could substantially lessen competition in the retail supply of petrol and diesel in several markets in Australia.
"The acquisition would combine two major fuel retailers in Australia," ACCC Commissioner Dr Philip Williams said.
"We have identified 115 EG sites where the acquisition could substantially lessen competition in the relevant local market, and also consider that the acquisition could substantially lessen competition in the metropolitan areas of Brisbane, Canberra, Melbourne and Sydney."
Ampol's offer to divest 19 retail fuel sites does not adequately address these local or metropolitan wide issues which is why we have decided to conduct a further in-depth competition assessment.
The ACCC has not reached a conclusion on the issues and will continue to consider the acquisition in Phase 2.
