Adaro (AADI) Sells Australia's Kestrel Coal Mine for Rp41 Trillion - Maybank Trade ID

Today’s market sees the index moving mixed within a narrower range after the recent rally hit the double bottom pattern target at 7,756. PT Adaro Andalan Indonesia Tbk (AADI) through Adaro Capital Limited (ACL) will sell 720,385,220 shares, representing 47.99% of its ownership in Kestrel Coal Group Pty Ltd, the Australian metallurgical coal mine operator, to a third party for a total transaction value of US2.4billionorequivalenttoRp41.14trillion(assuminganexchangerateofRp17, 140perUS). From the Kestrel divestment transaction, AADI will receive an initial payment of US$1.85 billion plus up to US$550 million in stages over five years, in accordance with the terms in the SPA. This step is taken to support the company’s business and investment strategy, with no material impact on operations or the company’s financial condition.