Indonesian competition law applies a mandatory post-merger notification system to M&A transactions. On 5 April 2013, the Indonesia Competition Commission ("KPPU") introduced Directive No. 2/2013, which amends the requirements for such notifications as set out in KPPU Directive No. 13/2010. Previously, only limited information had to be provided in the notification, such as information on the legal aspects, assets and turnover, and affiliated companies. Directive No. 2/2013 introduces two additional requirements, namely, the submission of (1) a business plan for the next three years, including information on the industry outlook; and (2) information on the market structure of the industry, including the market share of the merging entities and their competitors. These changes present new challenges to prospective mergers and acquisitions as it will have to be ensured that the due diligence process takes into account the new requirements.

Ahmad Fikri Assegaf, Bono Daru Adji, Chandra M. Hamzah, Eri Hertiawan, Eko Ahmad Ismail Basyuni and Ibrahim Sjarief Assegaf