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


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).

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