Ampol circling EG’s $2bn service station portfolio
By Sourced Externally
September 29, 2021
Ampol is gearing up for a spending spree, with suggestions that the locally listed fuel retailer is keen on EG Group’s $2bn-odd Australian service station portfolio.
Offshore reports suggest that the British petrol station and fast food outlet owner EG is likely to part ways with its Australian fuel convenience chain only three years after it fought off competition to buy the portfolio for $1.7bn.
It is understood that the logic for a sale is that the company is keen to reduce its level of debt.
ources say that should the assets hit the market, as expected, Ampol wants to compete for the portfolio.