PT Adaro Energy Tbk (ADRO) through PT Alam Tri Abadi (ATA) purchased 179 million shares of PT Merdeka Copper Gold Tbk (MDKA) which is owned by one of MDKA's non-controlling shareholders, namely Giribaldi Thohir.

Based on Adaro's official publication, on Monday (3/5), the purchase price of MDKA shares is Rp2,420 per share. The company believes this price reflects the fair value of Merdeka when the shares were purchased on April 28, 2021.

Meanwhile, the transaction value of the share purchase was Rp433.180 billion. This transaction is an affiliated transaction because Garibaldi Thohir is the President Director and President Commissioner of ATA.

The purchase of MDKA's non-controlling shares was made for the company's financial investment. This long-term financial investment placement is intended to hold a sizeable amount of shares.

The company chose to invest in stock instruments in the gold and copper commodity sector to protect