Freddy Karyadi Oene Marseille Through its Decree No KEP-264/BL/2011, the Indonesian Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) has revised Rule IX.H.1 on Takeovers of Publicly Listed Companies. Other than the introduction of the beneficial owner concept applicable to the new controller, there have not been many changes to the terms of takeover, procedures and requirements to carry out tender offers, and requirement to make divestment after completion of a tender offer which causes the new controller to own more than an 80% shareholding.
July 10 2011