07/07/2015 (Reuters) - Malaysian palm plantation firm Felda Global Ventures Holdings Bhd is putting a hold on acquisitions after a three-year, $2.5 billion spree designed to boost output and will now focus on consolidating investments.

The new strategy, disclosed in a statement on Tuesday, comes after the world's third-largest palm plantation operator said last month it planned to buy 37 percent of Indonesia's PT Eagle High Plantations for $680 million.

That deal was slated as being too expensive by analysts and politically motivated by opposition lawmakers, and Felda shares fell as much as 11 percent to all-time lows.

Felda defended the transaction on Tuesday, describing the deal as "a game-changer for the palm oil industry."

The company said it was not seeking majority control in Eagle High, and that the deal was conditional upon the transaction not requiring Felda to make a mandatory offer for the whole company.

The stock was 0.61 percent higher at 1.64 ringgit at 0118GMT, while the Malaysian benchmark index was up 0.01 percent.