This is the new MLex platform. Existing customers should continue to use the existing MLex platform until migrated.
For any queries, please contact Customer Services or your Account Manager. Dismiss

Bid for HBS by Indonesia's Petrosea sparks public review in Papua New Guinea

( September 5, 2025, 05:49 GMT | Official Statement) -- MLex Summary: Indonesian mining and oil-and-gas services company PT Petrosea’s proposed acquisition of HBS (PNG) and its subsidiaries is facing a public review by Papua New Guinea’s merger watchdog. In a statement, the Independent Consumer and Competition Commission announced its probe of the transaction, saying that while Petrosea, listed on the Indonesian Stock Exchange, doesn’t currently operate in the country, HBS, which is a construction- and mining-support services company, is domiciled in Papua New Guinea. The value of the transaction exceeds K50 million ($11.8 million) — the threshold that triggers a review under the country’s merger laws. The watchdog will accept submissions until Sept. 12.The Petrosea application to the ICCC is attached; the full statement by the regulator follows: ...

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.


Know what others in the room don’t, with features including:

  • Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
  • Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
  • Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
  • Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login

Documents

Related Sections