KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV) is expected to conclude negotiations on the acquisition of a stake in PT Eagle High Plantations Tbk by March this year.
Felda Bhd chairman Tan Sri Mohd Isa Abdul Samad said negotiations were ongoing and they hoped to settle talks within the next two months.
“The latest is that we are still looking for a new business model.
“Negotiations are still on, hopefully we can settle it in one or two months. By March, it will definitely be settled,” he told reporters on Wednesday.
FGV had earlier proposed to buy a 37% stake in PT Eagle High Plantations Tbk for US$680mil (RM2.93bil) from the Rajawali Group.
Eagle High is reported to own 425,000ha of landbank, with 67% in Kalimantan and the rest in the Papua, Sulawesi and Sumatra provinces.
This means that a 100% stake of US$1.84bil translates into US$4,324 (RM18,672) per ha.
Already a subscriber? Log in
The Star Festive Promo: Get 35% OFF Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
