The acquisition brought Adaro Energy`s shares in Bukit Enim Energi to 61.04 percent, Adro Energy President Director Garibaldi Thohir said here on Tuesday.
Meanwhile, 20 percent of Bukit Enim Energi`s shares is owned by PT Pamapersada Nusantara (PAMA), 13.92 percent by PT Triputra Utama Selaras and 5.04 percent by PT Bumi Alam Sejahtera (BAS).
"The transaction is neither a material transaction nor a transaction with a conflict of interests," he said.
He said Adaro`s investment in Bukit Enim was part of Adaro`s initiatives to build strong fundamental and open coal potentials in South Sumatra.
"This acquisition, along with two previous acquisitions is part of the company`s commitment to develop coal deposits in this area as well as to give benefit to the local people," he said.
Bukit Enim is a coal mining company which is currently developing a greenfield coal project at Muara Enim, South Sumatra.
He said the company had conducted a geological feasibility test before completing the purchase process. (*)
Editor: Kunto Wibisono
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