Malaysia's Felda to buy 37% of Eagle High from Rajawali for US$680m: exec
[JAKARTA] Malaysia's Felda Global Ventures Holdings Bhd plans to buy 37 per cent of Indonesia's PT Eagle High Plantations Tbk from Rajawali Group for around US$680 million, a Rajawali executive said on Friday.
Felda plans to buy 30 per cent of Eagle High in cash and 7 per cent by issuing new shares.
Felda will also buy 95 per cent of Rajawali's sugar project for around US$67 million.
Eagle High shares had surged more than 12 per cent earlier after media reports had flagged that a deal was in the works.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Anglo rejects BHP takeover bid as significantly undervalued
India rice prices at three-month low on shrinking demand
Gold prices set for weekly decline ahead of US inflation data
Pricey coffee is here to stay as hoarding, heat hit Vietnam supply
Oil settles higher as weak US economic growth offset by supply concerns