REPUBLIKA.CO.ID, JAKARTA - PT Adaro energy Tbk owned 99.99 percent shares of PT Alam Tri Abadi (ATA), which divests its shares at di PT Servo Meda Sejahtera (SMS). ATA plans to sell 35 percent shares of SMS or about 360,500 sheets with value of 25.13 million USD.

The sales of shares are made to two companies, namely PT Perusahaan Palembang Investama (216,300 shares) worth 15.08 million USD and PT Energi Karya Persada (144,200 shares) worth 10.05 million USD. The signing of the sale was conducted on February 21, 2014.

"Our vertical integration continues to run. Now we will focus on integration of Adaro's pit tower in South Sumatra," President Director of Adaro Energy, Garibaldi Thohir said on Wednesday as reported by Friska Yolandha.

The sale is also in line with long term goal of Adaro Energy to create maximum sustainable value from Indonesia's coal. ATA received 16.67 million USD and 499.20 billion IDR through its affiliation company, Titan Group and Trafigura Pte. Ltd.

Adaro still has the right to use particular road coal mines owned by PT Servo Lintas Raya and port facilities operated by PT Swarnadwipa Dermaga Jaya. Both companies are controlled by SMS. SMS provided logistic services integrated coal in South Sumatra. Adaro acquired SMS in October 2011 worth 200 billion IDR.

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