Ampol Shares Fluctuate Amid Divestment of Channel Infrastructure Stake

Thu 20 Mar 25, 01:56 AM | Team Kalkine

Shares of Australian fuel supplier Ampol Ltd (ASX:ALD) showed mixed movement on Thursday following the announcement of a divestment by its wholly owned subsidiary, Z Energy. After initially fluctuating between a 2.4% gain and a 1% decline, Ampol shares settled at AU$23.90, up just 0.1%, underperforming the broader S&P/ASX 200 Index (ASX: XJO), which gained 0.8% in morning trade.

Ampol announced that Z Energy has reached an agreement to sell its entire shareholding in Channel Infrastructure NZ Ltd (NZE:CHI), a move in line with the company’s ongoing review of its asset portfolio.

The transaction, valued at approximately NZ$95 million (AU$87.2 million), aims to optimize Ampol’s capital structure, with all proceeds directed toward reducing debt.

At the end of 2024, Ampol’s net borrowings had climbed to AU$2.77 billion, up from AU$2.20 billion at the same time in 2023. Management emphasised that the sale would not impact its long-term commercial relationships with Channel Infrastructure, particularly in relation to the Marsden Point Terminal in New Zealand.

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