Ampol Divests Retail Electricity Businesses to Focus on EV Charging and Renewable Fuels

An update from Meridian Energy Limited ( (MDDNF) ) is now available.

Ampol Limited, a company involved in energy solutions, has announced its decision to divest its retail electricity businesses in New Zealand and Australia as part of its strategy to focus on electric vehicle (EV) charging and renewable fuels. This move is expected to generate approximately $65 million in pre-tax proceeds and improve the company’s Group RCOP EBITDA by an exit run rate of about $30 million per annum by the end of 2025. The decision aligns with Ampol’s Future Energy and Decarbonisation strategies, enabling a more focused approach in areas where the company can add value and compete effectively. Ampol plans to explore potential alliances with Meridian Energy Limited in New Zealand and AGL Sales Pty Ltd in Australia to further grow as the energy landscape transitions.

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