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).
Already a subscriber? Log in.
Save 30% and win Bosch appliances! More Info
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
