What's happening in PresUniv
In the case of mergers and acquisitions, Indonesia adheres to the concept of post-notification, not pre-notification. This is as regulated in Act No. 5 of 1999 concerning the Prohibition of Monopolistic Practices and Unfair Business Competition, commonly referred to as the Anti-Monopoly Act. This kind of condition, sometimes has the potential to create uncertainty for companies that will carry out mergers and acquisitions. Aru Armando, SH, MH, Director of Mergers and Acquisitions at the Business Competition Supervisory Commission (KPPU), emphasized this in the seminar Taking a Closer Look: Legal Perspectives on Mergers and Acquisitions, Thursday (3/11), at the Charles Himawan Auditorium, President University campus, Cikarang.
The seminar is the result of a collaboration between the Law and Management Study Program, President University (Presuniv), presented three speakers, namely Aru Armando, Dr. Drs. Chandra Setiawan, MM, Ph.D., a Presuniv lecturer who is also a Commissioner at KPPU, and Dr. Fennieka Kristianto, SH, MH, MA, M.Kn, Vice Rector of the Presuniv for Resources, who is also a lecturer in the Law Study Program at (Presuniv). Chandra said, "I expect the phenomenon of mergers and acquisitions is to continue to increase in the near future." This is in line with the COVID-19 pandemic, which has caused many companies to experience problems in their business.
Chandra also explained that there are five reasons companies carry out mergers and acquisitions, namely to expand their business, reduce costs and achieve economic of scale, improve product quality, reduce tax payments, and avoid bankruptcy. Meanwhile, Fennieka explained the concept of business competition as well as mergers and acquisitions. "This act regulates that companies with huge capital do not act arbitrarily so that they can harm consumers," said Fennieka. (JB Susetiyo, PR team) (Photo: Silvi Desi Betrice).