MARKET DEVELOPMENT
Conclusive Mode Of Investment In Eagle High To Be Announced In 2016, Says FGV
Conclusive Mode Of Investment In Eagle High To Be Announced In 2016, Says FGV
02/12/2015 (Bernama) - Felda Global Ventures Holdings Bhd (FGV) today envisaged that a conclusive mode of investment in PT Eagle High Plantations Tbk will be announced in 2016.
In filing to Bursa Malaysia today, FGV said, the discussion for a possible different mode of investment in Eagle High might comprise, among others, potential joint-venture, off-take agreement or other forms of mutually-agreed collaborations.
FGV yesterday announced it was currently in talks with Indonesia-based PT Rajawali Corpora for a possible different mode of investment in Eagle High, the third largest plantation group listed in Jakarta.
Current market conditions and developments in the palm oil sector had made it necessary to mutually review the existing mode of investment in order to maximise the benefits for all parties involved, it said.
It was reported that FGV will buy 37 per cent stake in Eagle High -- RM2.37 billion in cash for 30 per cent stake and 95.44 million new FGV shares for the remaining seven per cent stake.
In filing to Bursa Malaysia today, FGV said, the discussion for a possible different mode of investment in Eagle High might comprise, among others, potential joint-venture, off-take agreement or other forms of mutually-agreed collaborations.
FGV yesterday announced it was currently in talks with Indonesia-based PT Rajawali Corpora for a possible different mode of investment in Eagle High, the third largest plantation group listed in Jakarta.
Current market conditions and developments in the palm oil sector had made it necessary to mutually review the existing mode of investment in order to maximise the benefits for all parties involved, it said.
It was reported that FGV will buy 37 per cent stake in Eagle High -- RM2.37 billion in cash for 30 per cent stake and 95.44 million new FGV shares for the remaining seven per cent stake.