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Observing ADRO Mission to Adaro Minerals (ADMR) Towards Jokowi's Raw Material Export Ban Wish
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Observing ADRO Mission to Adaro Minerals (ADMR) Towards Jokowi's Raw Material Export Ban Wish

Adaro Energy (ADRO) delegates alumina smelter construction to its subsidiary, Adaro Minerals (ADMR), by divesting 100 percent minus 1 share of Adaro Aluminium.
Rayful Mudassir, Anggara Pernando, & Aprianto Cahyo Nugroho
Rayful Mudassir, Anggara Pernando, & Aprianto Cahyo Nugroho - Bisnis.com
16 Februari 2022 | 06:41 WIB

Bisnis.com, JAKARTA - The Adaro Energy Indonesia, an entity under by the Thohir's, Soeryadjaya's, Subianto's, and T.P Rachmat's, is taking quick steps to build an aluminum smelter in the Green Industrial Park, Kalimantan.

After stating its commitment before President Joko "Jokowi" Widodo in late December 2021, the company determined PT Adaro Aluminum Indonesia to become an entity under the control of PT Adaro Minerals Indonesia Tbk. (ADMR).

"By purchasing company shares [Adaro Aluminum] or taking new shares to be issued," Adaro Aluminum's management wrote in its announcement.

Once the acquisition is complete, ADMR stock-coded company will have a 100 percent, minus 1 share, control in Adaro Aluminum.

"Under article 127 paragraph (3) of Law Number 40/2007 on limited liability companies, interested parties can obtain a takeover plan at the company's office starting from the announcement date until the date the General Meeting of Shareholder is held," the management explains.

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