The Indonesian Competition Authority imposes penalties on six companies for failing to notify their respective transactions in accordance with the mandatory post-closing notification requirements under the national merger control regime (Taiko Plantations / Aplikasi Karya Anak Bangsa / Saratoga Investama Sedaya / Dharma Satya Nusantara / Travel Circle / Orix)

Key takeaways The Indonesian merger regime requires notifiable transactions to be submitted 30 days post-closing. Failure to meet filing deadlines could result in fines of at least IDR 1 billion being imposed. There is no express statute of limitations pursuant to the merger regime, meaning the KPPU can fine companies in relation to transactions which have been completed for a number of years. Since the introduction of the Omnibus Law in November 2020 which made major changes to the penalties regime under the competition law (see Ashurst article entitled Clarifications to "Omnibus changes" to Indonesia's Competition Law), the KPPU is using its penalties toolkit to make known the

Access to this article is restricted to subscribers

Already Subscribed? Sign-in

Access to this article is restricted to subscribers.

Read one article for free

Sign-up to read this article for free and discover our services.

 

PDF Version

Author

  • Ashurst (Singapore)

Quotation

Angie Ng, The Indonesian Competition Authority imposes penalties on six companies for failing to notify their respective transactions in accordance with the mandatory post-closing notification requirements under the national merger control regime (Taiko Plantations / Aplikasi Karya Anak Bangsa / Saratoga Investama Sedaya / Dharma Satya Nusantara / Travel Circle / Orix), 3 May 2021, e-Competitions May 2021, Art. N° 101266

Visites 164

All issues

  • Latest News issue 
  • All News issues
  • Latest Special issue 
  • All Special issues