Australia’s new merger regime has spoken.

Gilbert + Tobin has advised EG Group on securing ACCC clearance for Ampol’s $1.1bn acquisition of EG Australia — the first complex Phase II merger to be cleared under Australia’s new merger control regime.

The regime commenced on 1 January 2026. The matter was notified to the ACCC on 10 October 2025 and cleared after a review of just under eight months, giving the market its first real read on how complex deals will fare under the new process.

EG Group, the British independent fuel and convenience retailer, entered Australia in 2019 after buying Woolworths’ fuel business for $1.25bn. The Ampol deal marks its full exit from the market.

And the path to ACCC clearance wasn’t smooth.

In January, the ACCC referred the deal to Phase II, flagging that the overlap between Ampol and EG Australia sites across 39 local markets could materially reduce competition. Ampol’s initial divestiture offer of 19 sites didn't cut it. Neither did 37. It took 41 before the ACCC was satisfied.

Dib Group (Metro Petroleum) has been approved as the buyer for the divested sites. The ACCC also granted a notification waiver, letting Metro move quickly without further approvals.

Ampol expects completion by 30 June.

G+T advised EG Group across the full transaction.

Competition partner Andrew Low led the regulatory charge, backed by special counsel Sophie Player and lawyers Adrian Vipond, Jenny Li and Ruby Kesselschmidt. On the corporate side, Peter Cook and Ilona Hunnisett led.

HSF Kramer advised Ampol, with a team led by partners Andrew Rich, Amelia Morgan, Linda Evans and Tess Mierendorff.

Source: Gilbert + Tobin, HSF Kramer