KPPU issues an Opinion on the Acquisition of PT Bank Pundi Indonesia Tbk by PT Banten Global Development.

Jakarta (18/4) – KPPU on April 17, 2018 has completed its Assessment and issued an Opinion on the acquisition of PT Bank Pundi Indonesia Tbk shares by PT Banten Global Development. This shares acquisition is a transaction that has fulfilled the provisions of Government Regulation No. 57 Year 2010. PT Bank Pundi Indonesia Tbk is a company engaged in the banking industry, while PT Banten Global Development has activities in the field of investment and currently has several minority equity interests in several companies. PT Banten Global Development has 1 (one) subsidiary engaged in the expedition.

Based on the results of research and information obtained, KPPU considered that there is a difference in the relevant market in the acquisition, so that the calculation of market share or market concentration is not required. Furthermore, KPPU sees that based on the data of the market share for national banking, PT Bank Pundi Indonesia Tbk has a relatively small market share compare to its competitors, so it is not expected to have significant vertical barriers to the national banking industry.

Based on the above analysis, KPPU considered that the acquisition of PT Bank Pundi Indonesia Tbk shares by PT Banten Global Development has no impact on the banking industry in Indonesia. Therefore, KPPU issues an Opinion that there is no allegation of monopolistic practices and / or unfair business competition due to the acquisition of PT Bank Pundi Indonesia Tbk shares by PT Banten Global Development.