April 16, 2019 / 4:02 AM / 5 months ago

Indonesia's Eagle High says not taking legal action against Malaysia's Felda

JAKARTA, April 16 (Reuters) - Indonesia’s Rajawali Group on Tuesday denied that its PT Eagle High Plantation Tbk unit was pursuing legal action over Malaysian palm oil plantation agency Felda’s plan to walk back on a $500-million 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.

Reporting by Cindy Silviana Writing by Fransiska Nangoy

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