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