Felda unit to buy PT Eagle High stake for US$505.4mil

  • Business
  • Saturday, 24 Dec 2016

KUALA LUMPUR: Federal Land Development Authority’s (Felda) subsidiary FIC Properties Sdn Bhd is acquiring the 37% stake in PT Eagle High Plantations Tbk that was previously eyed by sister company Felda Global Ventures Holdings Bhd (FGV) but at a 26% discount to the original price tag.

Shares in PT Eagle shot up 8.8% on Friday to an eight-month high of 298 rupiah, which values the Indonesian planter at around US$700mil (RM3.13bil).

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!


Next In Business News

ASM 3 declares income distribution of 4.5c/unit
UEM Sunrise completes RM350mil Islamic medium-term notes issuance
MAHB appoints Gordon Andrew Stewart as COO
Broad-based selling drags Bursa Malaysia to end at day's low
IHH group CFO to be on garden leave from Sept 30, 2023
Yinson posts higher net profit of RM230mil in 2Q
Banking system records healthy excess capital buffer of RM133.3bil in August - Bank Negara
Vietnam sees Q3 GDP growth capped by weak external demand
Oil heads for 2% weekly gain on tight U.S. supply, China demand
UK economy grows 0.2% in Q2 2023

Others Also Read