New BKPM online system will affect mining M&A transactions
Related people
Daniel Ginting
Managing Partner, Ginting & Reksodiputro in association with Allen & Overy
Jakarta
Desi Dwitiasrini
Counsel, Ginting & Reksodiputro in association with Allen & Overy
Jakarta
Risnan Yosal
Senior Associate, Ginting & Reksodiputro in association with Allen & Overy
Jakarta
30 January 2019
BKPM is moving in a new direction on certain approvals for changes to shareholder ownership in PMA mining companies.
The new rule replaces the old paper-based licences and approvals method (issued by BKPM) with submissions now being made through the Online Single Submission System.
Going forward, BKPM approval for a change of shareholder in a PMA mining company, which has traditionally been a condition precedent to closing, will need to become a condition subsequent in the form of an online submission.