The government will not interfere with the decision of the Federal Land Development Authority (Felda) to dispose of a 37% stake in PT Eagle High Plantation to the Rajawali Group.
JAKARTA: Indonesia's Rajawali Group on Tuesday denied that its PT Eagle High Plantation Tbk BWPT.JK unit was pursuing legal action over Malaysian palm oil plantation agency Felda's plan to walk back on a US$500mil purchase of a stake in the unit.
"Felda and Rajawali, or any subsidiary of Felda or Rajawali, are not or have never been engaged in any court proceeding," Rajawali said in the statement.
A Malaysian official last week said that Eagle High had decided to contest Felda's decision to walk back from its purchase of the stake in arbitration. - Reuters
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