Herbert Smith Freehills Kramer (HSF Kramer) has advised Ampol Limited on its $1.165 billion acquisition of EG Group Australia Pty Ltd and EG AsiaPac Holdings Pty Ltd (together, EG Australia).
The transaction, which involved the acquisition of a complementary company-owned and company-operated (COCO) network with approximately 480 sites (net of divestments) completed on 30 June 2026 for gross consideration of approximately $1.165 billion cash. EG Australia is an Ampol-branded COCO fuel and convenience network, with a large Australian east coast market presence.
The ACCC approved Ampol's acquisition, subject to conditions for Ampol to divest 41 retail fuel sites across Australia to an ACCC-approved purchaser. It is the first substantive acquisition to be notified under Australia's new merger regime (which commenced on 1 January 2026), first Phase II acquisition and first acquisition approved subject to conditions.
The HSF Kramer team advised Ampol on all aspects of the acquisition of EG Australia, and was led by M&A partner Andrew Rich and Competition partners Patrick Clark and Linda Evans, who were supported by a number of other partners (including Stephen Dobbs, Tess Mierendorff, Niresha Mudalige and Cameron Hanson) and lawyers (including Daniel Johnson, Mia Beagley, Simone Gould, Nini Lu, Carolyn Harris, Jordana Cawood and Rebecca Zhong).
Andrew Rich said, "We are delighted to have advised Ampol on this landmark transaction, which forms a key part of Ampol's Australian Convenience Retail growth strategy. Completing an acquisition of this scale, while navigating the very first Phase II review under Australia's new merger regime, required an exceptional level of coordination across our entire team. We are extremely proud of the outcome and delighted to have delivered it for Ampol."
Patrick Clark added: "Securing clearance as the first Phase II approval under Australia's new merger regime is a tremendous result and reflects the strength of Ampol's strategic and collaborative approach throughout the process. It has been a privilege to work closely with the Ampol team to bring this important transaction forward, and the outcome paves the way for a compelling next chapter in Ampol's growth."