EG Group has followed up the sale of its business in Italy with a divestment in Australia.
The forecourt operator agreed to sell the Australia business to Ampol for A$1.1bn (£528m), made up of A$850m in cash and A$250m in Ampol stock.
It marks EG’s exit from Australia, with the proceeds to be used to pay down the group’s debt pile.
Headquartered in Sydney, Ampol is the largest transport energy distributor and retailer in Australia, operating more than 1,800 branded service stations across the country.
The sale follows the agreement to dispose of EG Italy earlier this week.
CEO Russ Colaco said: “This transaction is a significant milestone in our ongoing efforts to streamline EG Group’s global portfolio and sharpen our focus on the markets where we see the largest growth opportunities.
“I would like to sincerely thank the Australian leadership team and all our colleagues for their significant contributions to the business.
“We remain fully focused on executing our strategy and building a platform for further growth, with our world-class grocery and merchandise, foodservice and fuel retail proposition.”
The Australian transaction is subject to antitrust and other standard regulatory approvals, with completion expected by mid-2026. BofA Securities acted as exclusive financial advisor and Gilbert + Tobin as legal advisor to EG Group on the transaction.
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