Foreign companies would be given the same treatment as local companies when registering their pre-notification of merger and/or acquisition plan with the Commission for the Supervision of Business Competition, an official said Thursday.
“We have a lot of foreign companies with representative offices in Indonesia, and just like local companies, they will have to comply with the regulation we have put down in the guideline (for merger and/or acquisition),” Director of Communication for the commission, A. Junaidi, said on Thursday in a press conference.
The commission had previously issued the draft of the guideline for merger and acquisition with official certification slated for early May.
“We (in the commission) think that there is a lack of regulation on merger and/or acquisition practices, which is why a guideline is needed to support existing regulations,” Junaidi said.
He added that the pre-notification of merger and/or acquisition to the commission is voluntarily for companies. However, he said, an incentive awaits those who chose to do so.
“The companies which pre-notify the commission will not have their merger or acquisition nullified by the law should they do any illegal conduct after the merger,
“For instance, if after a merger a company is monopolizing the market, we will not demand for a nullification of the merger. Instead, we will press charges under the monopoly law,” he said. (adh)