Merger and acquisition filings go back to 30 days in Indonesia
28 April 2022
The Indonesia Competition Commission (Komisi Pengawas Persaingan Usaha or “KPPU”) recently issued a new regulation (KPPU Regulation No. 2 of 2022) (“New Regulation”) which revokes KPPU Regulation No.3 of 20202 (“Current Regulation”).
A significant change brought about by the New Regulation is that, effective 30 April 2022, the timeframe of the Current Regulation’s “relaxed” post-effective date merger/acquisition KPPU filing deadline of 60 business days (as of the merger/acquisition transaction effective date) will become 30 business days.
The New Regulation was signed on 1 April 2022 and made available to the public on 6 April 2022, but will only become effective 30 days after signing (i.e. 30 April 2022).
This is an extract of an article by Soemadipradja & Taher, our network firm in Indonesia. To read the full article from the Soemadipradja & Taher website www.soemath.com, please click here.