JAKARTA: Business Competition Supervisory Commission (KPPU) assured acquisition conducted by PT Agung Podomoro Land Tbk over PT Karya Gemilang Perkasa and PT Alam Hijau Teduh does not violate Business Competition Act.
The decision was made following valuation of notifications issued by PT Agung Podomoro in October 19, 2011and November 17, 2011.
Based on KPPU evaluation, total Agung Podomoro Land and Karya Gemilang Perkasa assets is IDR7.5 trillion while a combination of Agung Podomoro Land and Alam Hijau Teguh is IDR7.56 trillion.
The corporate action also has met threshold policy as stated on Governmental Decree 57/2010, said KPPU’ Head of External Communication Ahmad Junaidi. (T05/aph)