Share Acquisition Notification Delayed, KPPU Imposes IDR 1 Billion Fine Against Mitsui

The KPPU found that the combined value of the two companies' assets and sales in Indonesia exceeded the notification threshold, which is IDR 2.5 trillion for assets and IDR 5 trillion for sales. According to regulations, notification to the KPPU must be made no later than 30 business days after the transaction becomes effective, which means the deadline is 9 August 2022. However, Mitsui only submitted the notification on 10 August 2022, which is one business day late.