Gojek fined Rp3.3 billion for late acquisition notification

Knowledge Highlights 08 April 2021

The Indonesian Competition Commission (Komisi Pengawas Persaingan Usaha, KPPU) recently imposed a fine of Rp3.3 billion (approximately US$230,000) on PT Aplikasi Karya Anak Bangsa (popularly known as Gojek), the first Indonesian decacorn technology company that provides a wide range of services, including ride-hailing, food delivery, and digital payment services, for its failure to submit a post-merger notification of its acquisition of shares in PT Global Loket Sejahtera (Loket.com) within the mandatory time limit.

On 25 March 2021, KPPU decided Case No.30/KPPU-M/2020, where it found that Gojek violated Article 29 of Law No.5 of 1999 on the Prohibition of Monopolistic Practices and Unfair Business Competition (Competition Law) and Article 5 of Government Regulation No.57 of 2010 on Merger or Consolidation of Business Entities and Acquisition of Company Shares which may result in Monopolistic Practices and Unfair Business Competition (GR 57/2010).

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