Malaysia's ‘FGV approached us’ says Indonesia's Rajawali

Tan Sri Peter Sondakh(pic), the chairman and chief executive officer of Pt Rajawali Corpora, said:

PETALING JAYA: Indonesia’s Rajawali Group, perplexed by the strong negative reaction in Malaysia from its proposed share sale agreement between its plantation arm – PT Eagle High Plantations Tbk – and Felda Global Ventures Holdings Bhd (FGV), has rebutted allegations that the deal was expensive and that it was an exercise necessary for the group to put it on a better financial footing.

Tan Sri Peter Sondakh, the chairman and chief executive officer of Pt Rajawali Corpora, pointed out that a banker acting for FGV had initiated the deal for the sale of a 37% stake in Eagle High to FGV and that it was not something his company started.