Herbert Smith Freehills Kramer assists Ampol to secure ACCC clearance for its A$1.1 billion acquisition of EG Australia – the first Phase II clearance under Australia’s new merger regime

Herbert Smith Freehills Kramer (HSF Kramer) has advised Ampol Limited on securing ACCC clearance for its proposed $1.1 billion acquisition of EG Australia. The ACCC approved Ampol’s acquisition, subject to conditions for Ampol to divest 41 retail fuel sites across Australia to an ACCC-approved purchaser.  

Ampol notified the acquisition to the ACCC on 10 October 2025. It is the first substantive acquisition to be notified under Australia’ new merger regime (which commenced on 1 January 2026), first Phase II acquisition and first acquisition approved subject to conditions.

The clearance is a landmark outcome for Ampol and for Australia's new merger control regime. The experience offers meaningful early direction on how complex transactions — including those necessitating remedies — will be evaluated by the ACCC going forward. The matter is a further example of HSF Kramer's market-leading competition capabilities, particularly in  complex merger clearance processes and high-profile transactions in the energy and infrastructure sectors.

HSF Kramer advised Ampol on all competition aspects of the acquisition, including Ampol’s notification, strategic engagement with the ACCC and the divestment process. 

The competition aspects of the transaction were led by competition partners Linda Evans and Patrick Clark and disputes partner Cameron Hanson, supported by Senior Associate Carolyn Harris, Solicitor Rebecca Zhong and a multi-disciplinary team across the firm's competition, corporate and disputes practices. The competition team is working together with HSF Kramer’s M&A team which is led by Andrew Rich and Stephen Dobbs.

Linda Evans commented: "We are delighted to have supported Ampol on this highly significant and complex transaction. 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."