Billionaire Thohir's Adaro Aims To Raise $2.5B From Coal Unit Spinoff

By Forbes | Sep 13, 2024 at 04:54 AM EST

Adaro Energy Indonesia, led by billionaire Garibaldi "Boy" Thohir, plans to spin off its thermal coal unit, Adaro Andalan Indonesia, worth $2.5 billion. The move aims to shift focus to minerals and renewable energy sectors, seeking additional funding and shareholder approval.

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