Two subsidiaries of PT Merdeka Copper Gold Tbk. (MDKA), PT Merdeka Battery Materials (MBM) conducted an affiliate transaction with PT Batutua Pelita Investama (BPI) with a transaction value of US$ 100 million to strengthen the nickel business.

Based on the disclosure of the company's information With the implementation of the transaction, MBM entered into an agreement with BPI with the total value of the transaction as much as US$ 100 million, with a value of US$ 34.98 per share.

"MBM will become one of BPI's shareholders so that MBM can provide funding support that will be used by BPI to develop and strengthen its portfolio in its business group," explained MDKA Management in an information disclosure, quoted on Tuesday (12/13/2022).

Meanwhile, this affiliate transaction is expected to have a positive impact on MDKA which in turn can create added value for the Company's Shareholders.

This transaction is not a material transaction as referred to in POJK 17/2020 because the transaction value does not reach 20 percent (twenty percent) of the Company's total equity based on the Company's Interim Consolidated Financial Statements for the period ended June 30, 2022 audited by Tanubrata Public Accounting Firm Sutanto Fahmi Bambang & Rekan.

This transaction is an affiliate transaction with a relationship between BPI and MBM with the Company, MBM is an MDKA Controlled Company whose shares are indirectly owned by the Company of 55.26 percent.

Meanwhile, BPI is a Controlled Company whose shares are owned by the Company directly or indirectly by 99.99 percent (ninety-nine point nine nine percent).

In addition, there are members of the Board of Directors and Board of Commissioners of BPI and MBM who also serve as members of the Company's Board of Directors.

Image source: Antara Foto/ Budi Candra Setya.

Source: https://market.bisnis.com/read/20221213/192/1608015/perkuat-bisnis-nikel-dan-baterai-mdka-gelontorkan-us100-juta