MY’s Felda Ventures arm to buy four firms of Indonesia’s Rajawali Group including Eagle High Plantations

Felda Global Ventures is the world's largest crude palm oil producer.

Felda Global Ventures Holdings Bhd‘s (FGV) wholly-owned subsidiary Felda Global Ventures Kalimantan Sdn Bhd (FGV Kalimantan) is expected to complete the equity acquisition of four Indonesian companies by November 30.

FGV Kalimantan had entered into a heads of agreement with PT Rajawali Capital International (Rajawali Capital) and PT Rajawali Corpora (Rajawali Corpora) to purchase equities in four companies owned by the two entities, on June 12, 2015.

The agriculture group told Bursa Malaysia on Friday that under the deal with Rajawali Capital, FGV Kalimantan will own 11.66 billion shares, representing 37 per cent equity interest in PT Eagle High Plantations Tbk (previously known as PT BW Plantations Tbk), an Indonesian public listed company, from Rajawali Capital.

Related : Felda assures investors it has capital & appetite for $680m Eagle High Plantations deal

FGVH aims to seal deal for Eagle High stake by end-October

Separately, the deal between FGV Kalimantan and Rajawali Corpora will see the former owning 2,375 shares, representing 95 per cent equity interest in PT Cendrawasih Jaya Mandiri; 2,375 shares, representing 95 per cent equity interest in PT Karya Bumi Papua; and 14 shares, representing 93.3 per cent equity interest in PT Rizki Kemilau Berjaya.

The entities involved in the deal are still in the midst of negotiating the terms of the definitive documents, the group said.

In its Bursa Malaysia disclosure dated June 12, 2015, FGV Kalimantan said: “The partnership with a strong Indonesian partner in Rajawali Corpora will provide access to a formidable platform in Southeast Asia’s largest market, with significant revenue and cross-selling opportunities through Rajawali Corpora’s extensive network and credentials.”

Also read:

Indonesia’s Rajawali open to share swap with FGV for control of Eagle High, not interested in TRX

Malaysia’s EPF displeased with FGV’s Eagle High acquisition

Indonesia’s Rajawali Group in divestment mode

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.