Acquisition

Article 1 number 11 of the Limited Liability Company Law jo. Article 109 number 1 of the Job Creation Law defines an acquisition as a legal act carried out by a legal entity or individual to take over shares of a company, resulting in the transfer of control over the company.

An example of a company that carries out an Acquisition is

  • PT XL Axiata Acquires PT Link Net. In June 2022, Axiata Group Berhad and XL Axiata completed the acquisition of 66.03% of Link Net shares with a value of RM2.63 billion or approximately IDR 8.72 trillion. This acquisition is part of XL's efforts to expand the provision of digital and convergence services to the community.
  • Djarum Group Acquires PT Solusi Tunas Pratama Tbk (SUPR). A well-known Indonesian company that has carried out an acquisition is the Djarum Group. Through its company PT Sarana Menara Nusantara Tbk (TOWR), the Djarum Group officially acquired 94.03% of the shares of PT Solusi Tunas Pratama Tbk (SUPR) with a transaction value reaching IDR 16.73 trillion.
  • Medco Group Acquires ConocoPhillips. Mining sector issuer PT Medco Energi Internasional Tbk. The oil and gas issuer founded by businessman Arifin Panigoro succeeded in acquiring all shares issued by ConocoPhillips Indonesia Holding Ltd. (CIHL) with an acquisition value reaching USD 1.35 billion or equivalent to IDR 19 trillion (exchange rate of IDR 14,632 per USD).